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Bemis to cut workforce by 5% as part of cost cutting plan

Published 06/30/2017, 08:02 AM
© Reuters.  Bemis to cut workforce by 5% as part of cost cutting plan
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  • Bemis (NYSE:BMS) announces plans to cut 300 jobs, or ~5% of its global workforce, over the next three years as part of a restructuring plan targeting $55M-$60M in cost savings by next year.
  • BMS says it will close two manufacturing facilities, one beginning this year and the other in 2018; the employees of the plants would be transferred to other locations.
  • BMS says a review of its U.S. manufacturing operations was expanded to include its entire global business because of challenges in Brazil.
  • Now read: The MnM Portfolio, May 2017 - 5 Months In, 5% Income Growth


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