How did OI Glass manage expenses to boost Q2 2024 profits?

O-I Glass managed to boost its Q2 2024 profits by effectively controlling expenses through its "Fit to Win" strategy and strategic initiatives: 1. **Cost Reduction Initiatives**: O-I Glass implemented a severance program aimed at reducing selling, general, and administrative costs, particularly in its Americas segment. This program was part of the company's broader "Fit to Win" strategy, which aimed to enhance financial performance by streamlining operations. 2. **Optimized Operations**: The company's "Fit to Win" strategy involved optimizing its operations to reduce total enterprise costs and streamline its network and value chain. This approach improved its competitive position and set targets to generate savings of at least $650 million by 2027. 3. **Increased Efficiency**: O-I Glass made significant progress in becoming more competitive and profitable as the "Fit to Win" strategy took hold. The company achieved $61 million in Fit To Win benefits during Q1 2025, which exceeded projections. 4. **Strategic Optionality**: The company's three-horizon value creation roadmap included strategic optionality, which likely involved prudent capital allocation and geographic expansion to enhance profitability. By implementing these measures, O-I Glass was able to manage expenses effectively, which significantly boosted its Q2 2024 profits.