O-I Glass to Close European Facility, Approves Severance Plan

Dow Jones

2025/03/22

By Sabela Ojea

O-I Glass said it would close a facility in Europe, affecting 170 workers, and approved a severance program and restructuring actions primarily to reduce costs in the Americas segment.

The manufacturer of glass containers on Friday said the closure of the European plant and job cuts would mean it would book charges of about $50 million.

O-I Glass also said that the Americas severance program is expected to come with charges of around $20 million.

Both expenses relate to future cash expenditures, the company added.

As of the end of 2024, the company had 34 glass container manufacturing plants in Europe, and 33 in the Americas region, according to its most-recent 10-K filing with the Securities and Exchange Commission.

The cuts are part of a broad strategic review of the business, which began in 2024 with the aim of reducing redundant production capacity and the optimization of its network.

Since then, the company has announced around 1,500 job eliminations.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

March 21, 2025 17:05 ET (21:05 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4126","symbol_name":"金屬與玻璃容器","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2521257586","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2521257586","pubTimestamp":1742591100,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"O-I Glass said it would close a facility in Europe, affecting 170 workers, and approved a severance program and restructuring actions primarily to reduce costs in the Americas segment.The manufacturer of glass containers on Friday said the closure of the European plant and job cuts would mean it would book charges of about $50 million.Both expenses relate to future cash expenditures, the company added.As of the end of 2024, the company had 34 glass container manufacturing plants in Europe, and 33 in the Americas region, according to its most-recent 10-K filing with the Securities and Exchange Commission.The cuts are part of a broad strategic review of the business, which began in 2024 with the aim of reducing redundant production capacity and the optimization of its network.Since then, the company has announced around 1,500 job eliminations.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4126":"金属与玻璃容器","OI":"欧文斯伊利诺玻璃"},"translate_title":"O-I Glass将关闭欧洲工厂并批准遣散计划","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OI":0.9},"content_text":"By Sabela Ojea \n\n\n \n\n\n  O-I Glass said it would close a facility in Europe, affecting 170 workers, and approved a severance program and restructuring actions primarily to reduce costs in the Americas segment. \n\n\n  The manufacturer of glass containers on Friday said the closure of the European plant and job cuts would mean it would book charges of about $50 million. \n\n\n  O-I Glass also said that the Americas severance program is expected to come with charges of around $20 million. \n\n\n  Both expenses relate to future cash expenditures, the company added. \n\n\n  As of the end of 2024, the company had 34 glass container manufacturing plants in Europe, and 33 in the Americas region, according to its most-recent 10-K filing with the Securities and Exchange Commission. \n\n\n  The cuts are part of a broad strategic review of the business, which began in 2024 with the aim of reducing redundant production capacity and the optimization of its network. \n\n\n  Since then, the company has announced around 1,500 job eliminations. \n\n\n \n\n\n  Write to Sabela Ojea at sabela.ojea@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 21, 2025 17:05 ET (21:05 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}