Paper Shuffling? 

by John Branston

International Paper is restructuring its business, and Memphis could be both a winner and a loser by gaining another corporate headquarters but losing hundreds of jobs.

International Paper (IP) announced Tuesday that it is planning to sell or spin off assets that account for 30 to 40 percent of its operating profits. IP has approximately 2,700 employees in the Memphis area. In one of the most celebrated local business stories of the last 20 years, the company moved most of its white-collar jobs but not the headquarters to Memphis from Stamford, Connecticut., in the 1980s.

"As part of IP's overall effort to become even more efficient and further streamline operations, the company will evaluate the possible relocation of its headquarters to Memphis," the company said Tuesday in a prepared statement.

IP spokesman Amy Sawyer said there are 134 employees in the headquarters.

"At this time we can't quantify the impact on staffing in Memphis," she said.

The restructuring is expected to take two years. If Memphis lost a proportional share of its employees, that would mean up to 1,000 jobs. n

Comments

Subscribe to this thread:

Add a comment

ADVERTISEMENT
ADVERTISEMENT
    • Gateway to Frayser

      New development promises economic boost to North Memphis.
    • Trials on Trial

      Shelby County District Attorney General’s office again targeted for misconduct.
    • Natural Healing

      Arkansas fires up its medical marijuana program.

Blogs

Politics Beat Blog

It’s Alive! Local Democrats Resuscitate the Official Local Party

Music Blog

Circa Survive Rekindles Magic At Growlers

Fly On The Wall Blog

Artist Renderings for RDC Riverfront Seen as a Comic Book...

Music Blog

WYPL brings you the Memphis Sound

News Blog

Tennessee Breaks Record for Student Aid Requests

News Blog

MLGW's Water Test Comes Back Clean

Fly On The Wall Blog

RDC Announces Plan to Raise Atlantis

ADVERTISEMENT

More by John Branston

  • Pyramid History 101

    Bass Pro should acknowledge the big pointy building’s backstory.
    • May 14, 2015
  • Let it Be

    What to do about the Fairgrounds? How about nothing?
    • Jan 29, 2015
  • Let’s Go, Shelby County Schools!

    Some suggestions for how the new Shelby County Schools system can hold its own in the years to come.
    • Aug 14, 2014
  • More »

Readers also liked…

ADVERTISEMENT
© 1996-2017

Contemporary Media
460 Tennessee Street, 2nd Floor | Memphis, TN 38103
Visit our other sites: Memphis Magazine | Memphis Parent | Inside Memphis Business
Powered by Foundation