Despite tax break, Kleenex co. fires 13% of workforce

[Lion Heart 15,041]

Kimberly-Clark, the maker of Huggies and Kleenex, is laying off about 13 percent of its work force and shedding factories worldwide, amid declining birthrates that are affecting diaper sales and a retail price war that is weighing on profits.

The company said Tuesday that it would cut between 5,000 and 5,500 jobs in an effort to reduce expenses as it faced stiffer competition for consumer staples like tissues, paper towels and wet wipes.

To help pay for the cuts and other restructuring moves, Kimberly-Clark said, it will use savings from the recently enacted corporate tax cut.

Thomas J. Falk, the chairman and chief executive, said in a statement that the cuts would make the company “leaner, stronger and faster.”

The pressures on Kimberly-Clark reflect the upheaval in the retail industry, where a fierce battle among behemoths like Amazon and Walmart is driving down prices, particularly for household items that many consumers treat increasingly as commodities. That competition, in turn, is driving down Kimberly-Clark’s selling prices — which fell more than 1 percent last year.

https://www.nytimes.com/2018/01/23/business/kimberly-clark-layoffs.html?smid=tw-nytimes&smtyp=cur

[Pacify Him 9,073]

2 hours ago, Lion Heart said:

amid declining birthrates

Gays ha impact  

[Economy 52,861]

I mean there's thousands of Corporations globally in different situations. U can always find specific companies that won't respond to policy changes the way u expect

 

This didn't appear to have taxes as any factor behind it

 

Not defending the tax cuts tho. Trump kinda over-did those especially when factoring in middle class hardly got any and no spending cuts came with it