TomParks
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- Nov 5, 2016
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Kimberly-Clark's restructuring program comes amid increased competition and lower birth rates than it expected in the U.S. and South Korea, which impacts diaper sales.
The company had been considering the restructuring program for much of last year, before Congress approved the tax legislation.
"Kimberly-Clark, a company with a long history of supporting American workers and manufacturing, is undertaking a restructuring program to retain its leadership in a rapidly evolving global marketplace by streamlining its operations and reducing costs in order to continue investing in its brands and long term growth," the company said in a statement. "The decision to undertake this restructuring program was made independently and not as a result of the recently passed tax reform legislation."
"Kimberly-Clark remains committed to American manufacturing, plans significant capital investments into its ongoing U.S. operations, and will remain a significant employer with more than 12,000 employees in the U.S.," the company added.
Kimberly-Clark to use savings from tax cuts to pay for layoffs
The company had been considering the restructuring program for much of last year, before Congress approved the tax legislation.
"Kimberly-Clark, a company with a long history of supporting American workers and manufacturing, is undertaking a restructuring program to retain its leadership in a rapidly evolving global marketplace by streamlining its operations and reducing costs in order to continue investing in its brands and long term growth," the company said in a statement. "The decision to undertake this restructuring program was made independently and not as a result of the recently passed tax reform legislation."
"Kimberly-Clark remains committed to American manufacturing, plans significant capital investments into its ongoing U.S. operations, and will remain a significant employer with more than 12,000 employees in the U.S.," the company added.
Kimberly-Clark to use savings from tax cuts to pay for layoffs