Employment and Workforce - As of December 31, 2024, Smurfit Westrock employed approximately 100,000 people across 40 countries, with 52,500 in North America, 37,000 in Europe, MEA, and APAC, and 10,500 in Latin America[120]. - Approximately 54% of hourly employees in the U.S. and 60% of employees in Europe are covered by collective bargaining agreements, reflecting strong labor relations[121]. - The company has a robust talent development program, with over 500 senior leaders participating in the flagship Open Leadership program in partnership with INSEAD[131]. - The company’s talent planning initiatives ensure timely talent mobility into key vacancies across the organization[130]. - The company’s employee benefits packages are competitive and tailored to local market relevance[133]. Safety and Compliance - The company achieved a lost time incident rate of 0.27 and a global Total Recordable Incident Rate of 0.58 for 2024, indicating a strong commitment to safety[123]. - The company has implemented comprehensive safety management systems to safeguard employee health and safety, which are critical for attracting and retaining talent[137]. - The company invested approximately $127 million in capital expenditures related to environmental compliance during fiscal 2024[142]. - The company is subject to various environmental laws and regulations, which significantly impact its manufacturing processes[140]. Innovation and Sustainability - Smurfit Westrock won 106 awards in 2024, including 16 awards at the Flexographic Industry Association UK awards and 13 WorldStar 2024 awards, showcasing its industry leadership in innovation[102]. - The "Better Planet Packaging" initiative has executed over 80 successful projects for leading brands, focusing on sustainable packaging solutions[103]. - The Sustainability Committee of the Board met three times in 2024 to review the company's climate strategy and stakeholder expectations[107]. - The company plans to publish an overview of its climate risk management approach in the first half of 2025, aligning with the Task Force on Climate-related Financial Disclosures[113]. - Consolidated sustainability targets and data are expected to be reported for the 2025 financial year, following the mid-year merger of Smurfit Kappa Group and WestRock[114]. - The company is committed to sustainability, focusing on renewable and recyclable materials to create innovative packaging solutions[105]. - Smurfit Westrock's innovation model includes 30 interconnected customer-centric Innovation and Experience centers to enhance local implementation and efficiency[100]. Leadership and Compensation - The company’s executive leadership includes experienced individuals with extensive backgrounds in the industry, enhancing strategic decision-making[145][146][147][148][149][150]. - The company’s compensation packages are designed to attract, retain, and motivate employees, aligning with performance and business growth[133]. - The company is committed to equal pay for equal work, conducting frequent pay analysis and global pay equity benchmarking[135]. - The company holds a substantial number of patents and trademarks, which are crucial for its manufacturing operations[136].
Smurfit WestRock plc(SW) - 2024 Q4 - Annual Report