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Kimberly-Clark to use savings from tax cuts to pay for layoffs
BY NAOMI JAGODA - 01/24/18 12:29 PM EST
Kimberly-Clark — maker of brands such as Kleenex, Scott and Huggies — said the savings it receives from the new tax-cut law will help them pay for a restructuring program that includes layoffs.
The company said the restructuring initiative, which the company was planning to undertake regardless of the tax law's passage, will involve reducing its number of employees by about 5,000 to 5,500 people, or 12 to 13 percent of its workforce. Kimberly-Clark also said it plans to close or sell about 10 manufacturing facilities.
more:
http://thehill.com/policy/finance/370498-kimberly-clark-to-use-savings-from-tax-cuts-to-pay-for-layoffs
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