CLEVELAND, Tenn. (From news reports) -- International Paper will shut down its container facility in Statesville, resulting in the loss of 74 jobs, according to a filing with the N.C. Department of Commerce.

The Memphis, Tennessee-based company confirmed last week that it plans to layoff about 650 workers, including around 400 at its headquarters.

"International Paper is undergoing a transformational journey to become a stronger, more profitable sustainable packaging solutions company. A critical step in this journey is to organize our teams and resources to create the most value for customers and shareholders. As a result, we made the difficult decision to cease operations at our Statesville, NC, packaging facility," according to a statement released by the company.

Operations in Statesville will end on or before Dec. 18, according to the company. Employees there will be offered severance packages, outplacement services and mental health resources, according to the company.

"The decision to close this facility was difficult but these actions will allow us to shift resources and increase our investments in facilities where we can best serve our customers through improved quality, reliability and service delivery," according to a statement released by the company.

Hourly employees at the plant are represented by the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union Local 429. A call to the union president was not immediately returned.

Since this is a permanent closure of the entire facility no bumping rights will exist for any affected employees, whether hourly or salaried, according to the company. Employees can apply for positions at other International Paper facilities. The company has at least 10 other sites in North Carolina, according to its website.

A separate warehouse located in Statesville will not be affected by this plant closure, according to the company.

International Paper is a global producer of packaging, pulp and other fiber-based products with about 39,000 employees in 35 states and 10 countries. It had net sales of almost $19 billion last year. It has a market capitalization of almost $16.2 billion.