Global packaging and paper producer Mondi is accelerating its restructuring programme, moving away from new capacity building to focus on efficiency and cost reduction.
The company plans to shut six plants and eliminate 580 roles across Europe, a move designed to streamline operations following a challenging first half of the year.
The decision marks a strategic pivot for the group, which is prioritizing operational efficiency over expansion.
By closing underperforming facilities and reducing headcount, Mondi aims to improve its cost base and enhance profitability in a competitive market environment.
The restructuring reflects a broader industry trend where companies are tightening belts to navigate economic headwinds.
This acceleration comes after a tough first half, suggesting that previous measures were insufficient to meet financial targets.