Louisville packaging facility to close, lay off nearly 100 workers. What to know

A Louisville packaging plant will shut down, impacting nearly 100 employees.

Memphis-based International Paper announced in a news release that it plans to close its Louisville facility at 4400 Progress Blvd.

The company also said it will shut down a packaging facility in Compton, California, which employs 125 workers. Both locations are expected to close by January.

Affected employees will receive outplacement support, access to mental health resources, and severance benefits, according to the company.

“International Paper is undergoing a transformational journey to become a stronger sustainable packaging solutions company,” the company said in a statement. “A critical step in this journey is to streamline IP’s footprint to focus investments on facilities that will best serve customers and accelerate strategic initiatives to improve quality, reliability and service delivery.”

More layoff news: Kentucky company announces closure, layoff of 200+ workers. Here’s what we know

International Paper operates additional facilities and mills in Kentucky, including locations in Lexington, Walton, Bowling Green and Henderson.

The company has more than 65,000 employees and operates in over 30 countries. It also acquired DS Smith, another packaging company, earlier this year.

International Paper reported $6.22 billion in net sales but posted a net loss of $1.1 billion in its most recent third-quarter results.

“While demand remained soft across both regions, we took decisive actions to reshape our portfolio — exiting non-core businesses, closing facilities, and reinvesting in our most strategic assets,” said Chairman and CEO Andy Silvernail.