The makers of Huggies and Kleenex is firing up to 5,500 workers and it's using Trump tax cuts

[workinclasszero]

The maker of Huggies and Kleenex is firing up to 5,500 workers — and it's using Trump tax cuts to pay for the layoffs
Kate Taylor Jan. 25, 2018, 9:16 AM

Kimberly-Clark — the maker of Huggies and Kleenex — is cutting up to 5,500 jobs.

The company said it would use savings from the new Republican tax plan to fund the layoffs and restructuring.

Kimberly-Clark announced on Tuesday that it would cut between 5,000 and 5,500 jobs, or roughly 12 or 13% of the company's employees.

The personal care product company also announced plans to shut down 10 manufacturing facilities. The restructuring program is estimated to save Kimberly-Clark $500 to $550 million by the end of 2021.

The company said it plans to use savings from the Republican tax plan to fund the cuts and other restructuring efforts, The New York Times reported.

http://www.businessinsider.com/kimberly-clark-pays-for-layoffs-with-trump-tax-cuts-2018-1

[oberliner]

1. Statement from the company

:large

[workinclasszero]

2. I'm sure that will comfort the 5,500 workers

thrown out on the street by this company and the Trump administration.

[oberliner]

4. It's not meant to comfort anyone

The reality is that KC is in trouble period. They are trending down with essentially no sign of growth.

[workinclasszero]

6. Gee I bet KC backed the republicans 100% in last years elections

and Dump's welfare tax bill for billionaires and huge corporations...like KC.

I also am willing to bet that KC is totally opposed to a 15 dollar minimum wage that would actually put money in the pockets of the 99% so we could buy their goods and services.

So F them, they made their shit sandwich themselves while the American working class will be the ones to pay the price for it as usual.

[oberliner]

7. Probably

In fact, I would imagine that if the minimum wage were to be raised, they would probably speed up the move towards automating those low wage positions (which they are doing anyway).

[Oneironaut]

3. Retain its leadership - Code for The executives demanded bonuses and raises that they didn't need

[oberliner]

5. As is the case across the board

With pretty much every big company everywhere. The execs make sure they get theirs.

[procon]

8. Oh noes! Who could have anticipated that would happen? 😜 nt