James Cropper to Restructure its Paper Division
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British specialty paper manufacturer James Cropper will restructure its Paper division and group operations, according to Euwid.
James Cropper has experienced a sharp downturn in activity in the first quarter of 2020 (April-June), resulting in a trading loss. The impact of the global pandemic is now being felt throughout the group, but the Paper division was hit the hardest.
Mark Cropper, Chairman of the company, announced, as quoted by Euwid: "James Cropper has been developing restructuring plans for some time in order to drive growth and competitiveness. The impact of the pandemic has required us to accelerate the implementation of these plans, which affect our Paper and Group operations divisions. Overall less than 10 per cent of our employees will be potentially affected. We will work collaboratively with our employees, unions and representatives to establish how best to achieve these changes and minimize potential job losses."
