Logout
Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
Search
My Profile
Login
Kimberly-Clark to Cut Workforce by 12-13 Percent, Shut Facilities
Print

Irving, Texas, USA 24 January 2018 -- (From news reports) -- Kimberly-Clark Corp said on Tuesday it expects to eliminate 5,000-5,500 jobs, or 12-13 percent of its workforce, as part of its global restructuring program.

The company said it expects to close or sell about ten manufacturing facilities and would exit or divest some lower-margin businesses.

The restructuring is expected to broadly impact all the business segments of the company, it said.

The cost-savings program, which will begin in the current quarter, is expected to be completed in two years and the company sees incurring related pretax charges of $1.7 billion to $1.9 billion over that period.

Kimberly-Clark said the program would generate annual pretax cost savings of $500 to $550 million by the end of 2021.

It expects cash costs for the restructuring, mainly related to workforce reductions, to be between $900 million to $1 billion.

The company on Tuesday also reported a near 1 percent rise in fourth-quarter net sales to $4.6 billion, compared with a year earlier.

Kimberly-Clark said it expects net sales in 2018 to improve by 1 percent to 2 percent.

"Although we expect market conditions will remain challenging in the near-term, we plan to deliver better results in 2018 while we begin to implement our new restructuring", Chief Executive Thomas Falk said in a statement.

****

EMPLOYMENT OPPORTUNITY: We are a large automation company that has a line of consistency transmitters, sample valves and sheet break detectors that are marketed through a rep. network. We are seeking someone with a strong background in consistency control to facilitate start-ups, provide troubleshooting and technical advice. The individual should have experience in all major types of consistency measurement technologies (blade, rotary, microwave and optical). Knowledge of sheet break detection technology is desirable as well. Willingness to travel to paper production facilities across the US is a must.

Travel & Living Expenses to be reimbursed along with an agreed upon daily per diem rate.

For more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412

****

Jim Thompson is back again...with a new book on a taboo subject: the personalities in the pulp & paper industry. Jim has written in the past on many subjects based on his four plus decades in the worldwide pulp and paper industry. This new book is packed full of information valuable to the senior member of the industry as well as the recent entrant. A must for every pulp and paper library.

 

Related Articles:


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: