BUSINESS BRIEFING / FOREST PRODUCTS
Times Wire Reports
International Paper Co., the world’s largest maker of cardboard box materials, said it was cutting 1,600 positions -- nearly 3% of its payroll -- as it brings capacity into line with sharply diminished demand.
The company, which employs about 57,000, is closing plants in Albany, Ore., Pineville, La., and Franklin, Va., and permanently shutting down an idled machine at its mill in Valliant, Okla.
