Kimberly-Clark Says Tax Bill Helps Fund Layoffs

With numbers down since 2014, Kimberly-Clark enforce a cost-cutting program that eliminates full-time positions.

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A month after the tax bill went into effect, numerous U.S. companies promised to pass their savings to workers by salary increases or bonuses.

Kimberly-Clark, known for producing diapers and facial tissues, however, plans to use their savings to shrink their workforce by as much as 13 percent. The company announced its plans to dismiss 5,000 people and close up to 10 manufacturing firms.

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