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O-I Glass (OI) has shared an update.
O-I Glass, Inc. is set to shut down four furnaces in its Americas segment to streamline operations under its Fit to Win initiative. These closures, which will impact around 200 employees, are just part of a larger restructuring set for 2024. The company will take a $20 million hit in charges due to these actions, with the majority related to asset impairment and the rest for severance and associated costs. Management will discuss these changes and more at the upcoming UBS Global Materials Conference, where they’ll present and provide a webcast for stakeholders.
For detailed information about OI stock, go to TipRanks’ Stock Analysis page.