Pactiv Evergreen layoffs, on the record
Every job cut, severance charge and restructuring Pactiv Evergreen reported in its annual reports, 2022 to 2024, quoted from the filings. Headcount went from approximately 16,000 to approximately 15,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 16,000 | December 31, 2022 |
| 10-K for 2023 | approximately 15,000 | December 31, 2023 |
Job cuts, severance and restructuring
Our summaryBoard approved a restructuring of the Beverage Merchandising segment, including closing the Canton, North Carolina mill and the Olmstead Falls, Ohio converting facility, and combining the Food and Beverage Merchandising business units.
Word for word“On March 6, 2023, we announced that our Board of Directors had approved a restructuring of our Beverage Merchandising segment, including the closure of our mill in Canton, North Carolina and our converting facility in Olmstead Falls, Ohio and the reorganization of our management structure by combining our Food Merchandising and Beverage Merchandising business units.” 10-K for 2022
Our summaryBeverage Merchandising Restructuring included closing the Canton, North Carolina mill, with mill operations ceasing.
Word for word“The closure of our Canton, North Carolina mill, including the cessation of mill operations, during the second quarter of 2023;” 10-K for 2023
Our summaryCompany began exploring strategic alternatives for its Pine Bluff, Arkansas mill and Waynesville, North Carolina extrusion facility as part of the Beverage Merchandising Restructuring.
Word for word“The initiation of a process of exploring strategic alternatives for our Pine Bluff, Arkansas mill and our Waynesville, North Carolina extrusion facility, which remains ongoing and in relation to which we have not established a definitive timetable.” 10-K for 2023
Our summaryCompany announced a restructuring plan to optimize its manufacturing and warehouse footprint, called the Footprint Optimization.
Word for word“On February 29, 2024, we announced a restructuring plan approved by our Board of Directors to optimize our manufacturing and warehouse footprint.” 10-K for 2023
Our summaryThe company restructured its legacy Beverage Merchandising segment, closing the Canton, North Carolina mill and the Olmsted Falls, Ohio converting facility and reorganizing its operating and reporting structure.
Word for word“This restructuring involved, among other things: • The closure of our Canton, North Carolina mill, which we refer to as the Canton Mill, including the cessation of mill operations, during the second quarter of 2023; • The closure of our Olmsted Falls, Ohio converting facility and concurrent reallocation of certain production to our remaining facilities during the second quarter of 2023; and • The aforementioned reorganization of our operating and reporting structure to achieve increased efficiencies and related cost savings.” 10-K for 2024
Our summaryThe company completed the sale of the assets and liabilities tied to the Canton Mill.
Word for word“Finally, on January 10, 2025, we completed the sale of the assets and liabilities associated with the Canton Mill, which we refer to as the Canton Transaction.” 10-K for 2024
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2018-12-31 | $5 million | — | — |
| 2019-12-31 | $4 million | $4 million | $5 million |
| 2020-12-31 | $11 million | $11 million | $5 million |
| 2021-12-31 | $3 million | $3 million | $8 million |
| 2022-12-31 | $1 million | — | — |
| 2024-12-31 | — | $38 million | $52 million |
Pactiv Evergreen filed 2 restructuring notices (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Pactiv Evergreen’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2025-02-25. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.