International Paper is laying off 650 employees, with 400 cut from its Memphis location, citing corporate restructuring.

After the layoffs are finalized, International Paper will have about 1,700 employees in Memphis. The company has an estimated 39,000 employees worldwide. "International Paper is proud to be headquartered in Memphis and to be a force for good in this community," Simpson said.

Hundreds of International Paper employees are set to be laid off, with more than half of those positions based in Memphis. WREG has learned from an International Paper spokesperson that approximately 650 employees will be laid off,

International Paper confirmed Wednesday to FOX13 the company will cut about 650 total positions, including around 400 in Memphis. The company said it will provide severance packages, outplacement assistance and mental health resources to all affected employees.