Tuesday, July 26, 2005

Human Resources: Kimberly-Clark Corp to slash jobs

Reuters reports that Kimberly-Clark Corp will cut 6000 jobs and close or sell 20 plants as it moves to strengthen its nappy and health-care businesses and expand its presence in emerging markets.

The restructuring news came as the maker of Huggies nappies and Kleenex tissues posted better than expected quarterly earnings.

The company said it would record charges of US$625 million to US$775 million through 2008 to cut about 10 per cent of its workforce and eliminate 17 per cent of its manufacturing facilities under the restructuring.

The majority of the plant closings will be in North America and Europe