Breaking News

Kimberly-Clark Cuts Jobs As Profit Dips

December 9, 2005

Kimberly-Clark Corp. said it will cut 6,000 jobs and close or sell 20 plants as it moves to strengthen its diaper and health care businesses and expand its presence in emerging markets. The restructuring news came as the maker of Huggies diapers and Kleenex tissues posted better-than-expected quarterly earnings. K-C said it will record charges of $625 million to $775 million through 2008 to cut about 10% of its work force and eliminate 17% of its manufacturing facilities under the restructuring.
The majority of the plant closings will be in North America and Europe, chairman and chief executive Thomas Falk said. The company expects savings of $300 million to $350 million annually by 2009, which it plans to use to improve its diaper business, speed growth in India and China, move into higher-margin products in health care and boost new product development. The company will also focus on improving its feminine care business and shift its commercial products operation into more profitable areas such as workplace safety products.

blog comments powered by Disqus
  • Innovation On Display

    Melissa Meisel, Associate Editor||February 3, 2016
    P&G Beauty Digital Studio showcases new products for 2016

  • Crowning Glory

    Crowning Glory

    Christine Esposito , Associate Editor||February 3, 2016
    Celebrity stylists and experts from leading hair care brands talk about the ingredients and formats driving the styling sector.

  • Electric Slide

    Electric Slide

    Melissa Meisel, Associate Editor||February 3, 2016
    Skin care devices bring anti-aging to the next level