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

|About: Bemis Company, Inc. (BMS)|By:, SA News Editor

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.

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