Kimberly Clark Announces Plans to Cut Up to 5,500 Jobs
Kimberly Clark has announced plans to cut its workforce 12 to 13% company wide. Sluggish sales are to blame for a restructuring project that will cut between 5,000 to 5,500 jobs and force the company to close or sell ten of its factories.
Kimberly Clark global factories make a wide variety of products from Huggies to Kleenex. The factory here in Owensboro makes products like bath tissue, facial tissue and hand towels. While there's no word yet on which locations will be affected, the company has indicated that changes will affect "each geographical location." The company promises to close or sell ten manufacturing facilities and expand operations at others "to improve overall scale and cost".
In a statement, company officials say they hope the restructuring will ultimately save the company between $500 and $550 million dollars by 2021. If you'd like to take a look at Kimberly Clark's full statement regarding restructuring, CLICK HERE!