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Though their products seem at every theatre of life, from infants to the elderly, thousands of workers at Kimberly-Clark will see their provision cut. Makers of brands like Huggies, Kotex, Kleenex and Depend, Kimberly-Clark suggested its restructuring plans on Jan 23, and shamelessly explained the mass pursuit cuts were done probable since of the GOP taxation cut.
As partial of its 2018 “Global Restructuring Program,” between 5,000-5,500 people will remove their jobs, which a Kimberly-Clark statement claims is “12 to 13 percent of stream headcount.” According to their website, there are now 42,000 employees opposite 35 countries. The New York Times reported that the lay-offs will have a global impact.
Kimberly-Clark’s CFO Maria Henry pronounced during a call on Tuesday that the GOP taxation cut bill’s “cash upsurge benefits” to the company will support in profitable for the layoffs and that “tax assets would also be used to make collateral investments and to ‘allocate poignant collateral to shareholders,’” according to the New York Times.
This was echoed by publisher Nathan Bomey.
The CFO of Kimberly-Clark just pronounced on a discussion call that the taxation cuts “provides us the flexibility” to compensate for the “restructuring” plan. In other words, the taxation cut is appropriation the pursuit cuts.
— Nathan Bomey (@NathanBomey) Jan 23, 2018
While the need for the restructuring may be due to marketplace forces of wanting to create rival reduce prices and governmental forces of a decreased birth rate in some countries and so reduction direct for some of Kimberly-Clark’s products, the pursuit waste are singly tied to the new GOP taxation bill, which supposing cuts for corporations.
California Democratic Representative Ted Lieu also commented on the layoffs around Twitter.
I’m meditative that the 5,000 to 5,500 people losing their jobs at Kimberly-Clark are not too happy about the large taxation breaks to companies and the ultra rich upheld by the #GOP. https://t.co/jfjpC5DuD1
— Ted Lieu (@tedlieu) Jan 24, 2018
Kimberly-Clark, which was determined in the 1870s, also plans to shiver or sell 10 production plants as partial of the restructuring, which aims to “generate annual cost assets of $500 to $550 million by the finish of 2021.” The restructuring proclamation comes in multiple with the already handling FORCE program — Focused On Reducing Costs Everywhere.
Emily C. Bell is a news author at AlterNet.