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STAMFORD, Conn. (AP) – International Paper Co. plans to cut about 3,000 jobs, or about 3.5 percent of its work force, over the next year to help improve profits.

The reductions will primarily affect salaried personnel, International Paper spokeswoman Jenny Boardman said Wednesday. A small portion of the job cuts will be achieved by attrition, but most will be through layoffs, she said.

She did not have an estimate of how much money the company expects to save through the job cuts, but said the reduction is part of a plan to boost profits by $1.5 billion by 2005.



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http://www.internationalpaper.com

AP-ES-09-10-03 1522EDT


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