James Cropper to restructure Paper division

James Cropper restructures Paper division
James Cropper restructures Paper division
30 Jul 2020 − 

British specialty paper manufacturer James Cropper will restructure its Paper division and group operations. The company expects that less than 10 per cent of its workforce will be affected.

In line with management expectations 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, while the TFP and Colourform divisions are showing growth in sales, the company reported.

Mark Cropper, Chairman of the company, announced: "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 minimise potential job losses."

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