Bangor Daily News, Maine, Business letter of the column.
August 7 - BANGOR, Maine - MILL LAYOFFS NOT DISCUSSED: Mill officials at International Paper in Sport Buck told U.S. Rep. Michael Michaud and two state legislators Wednesday afternoon that they did not know whether any of the 900 employees there would be laid off by the end of the year.
Speculation about layoffs was heightened two weeks ago when IP’s chairman and chief executive officer, John Dillon, announced the inevitability of job reductions in the coming months to reduce operating costs by $ 500 million.
In early July, IP announced that it planned to invest $ 112 million to rebuild the No. 3-coated paper machine at its …
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