O-I Glass' restructuring programme has cost it $81 million in pay-outs to employees and furnace closure costs.
Financial details about its Fit to Win programme were unveiled in a recent note released by the company.
The note said the company anticipates further restructuring costs to come.
It added that it announced five permanent furnace closures between June and September this year.
In addition 21% of its European production capacity and 15% of its Americas capacity was temporarily stopped.
For the three and nine months ended September 30, 2023, the company implemented several restructuring initiatives and recorded restructuring and other charges of $81 million.
These charges consisted of employee costs, such as severance and benefit-related costs, write-down of assets and other exit costs in the Americas segment of $77 million, the European segment of $1 million and other corporate costs of $3 million.
It said: "The Fit to Win programme expects to reduce redundant production capacity and begin to optimise the network, as well as streamline other cost areas, such as selling, general and administrative expenses.
"Additional restructuring charges are expected in future quarters."
The Fit to Win programme aims to increase the Ebita of the the world's largest container glassmaker to $1.45 billion by 2027.
