NewPage cutting 300 jobs in U.S. - WAOW - Newsline 9, Wausau News, Weather, Sports

NewPage cutting 300 jobs in U.S.

WISCONSIN RAPIDS (WAOW) - NewPage Corp., which owns the paper mill in Wisconsin Rapids and plants in two other central Wisconsin cities, announced Tuesday that it was cutting about 300 jobs nationwide due to declining sales, or about 5 percent of its workforce.

Cliff Bowers, a spokesman for NewPage in Wisconsin Rapids, said the mill there employs about 1,050 workers but it was not immediately known how many jobs would be lost.

"There will be job cuts at every mill," he said.

NewPage, which is headquartered in Ohio, also owns plants in Biron and Stevens Point.

Bowers said declining demand for paper is triggering the job cuts. "We have to assure we are the most cost-efficient so we can assure long-term sustainability," Bowers said.

NewPage has facilities in Wisconsin, Minnesota, Michigan, Kentucky, Maryland and Maine.

In December, the company completed a financial restructuring and emerged from Chapter 11 bankruptcy reorganization. The company said the restructuring included a $500 million loan and $350 million in revolving credit.

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