Atlanta (News release) -- Employees at the Emporia Plywood mill in Emporia, Virginia, were told that Georgia-Pacific will permanently close the plant, effective May 2. Approximately 550 jobs will be impacted. Normal operations will cease May 2 - and the site will be permanently closed on July 1.

Georgia-Pacific will provide all affected employees with at least 60 days' pay with benefits in accordance with WARN.

Housing affordability challenges and a 30-year low in existing home sales are impacting our plywood business, as many of our plywood products are used in repair and remodel projects, which often occur when homes change ownership. To align with current demand, we are reducing our production capacity.

A decision on the facility and property will be made at a later date.

Georgia-Pacific is committed to treating all Emporia employees with dignity and respect and will work with them to provide access to local support agencies and job placement resources, including available opportunities within Georgia-Pacific or other Koch companies.