Packaging industry not spared by tough economy

• MWV plans to reduce corporate and business unit overhead expenses, generating $100 million in savings in 2009, and to close or restructure 12 to 14 manufacturing locations, creating a savings of $25 million. As a result, about 2,000 positions (10 percent of its global workforce) will be cut by year end, with about 800 of the reductions completed by the end of the first quarter.