Clearwater Paper Corporation announced the elimination of 200 positions across the company. This reduction represents 10% of the company’s total workforce, reflecting a significant organizational change.
The layoffs are part of an aggressive fixed cost reduction plan aimed at improving operational efficiency and strengthening the company's financial structure. The company is targeting $30 million to $40 million in cost savings in 2025 compared to 2024.
This initiative is expected to yield an annual run rate benefit of $40 million to $50 million, contributing to long-term profitability. The company aims to broaden its product portfolio and improve operational performance in 2025.
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