Pink Slips Coming For Kimberly-Clark

Kimberly-Clark says it is cutting 5,000 jobs on sluggish sales partly due to fewer babies. Millennials are not having as many babies. As a result, the company is slashing its costs by $1.5 billion over the next four years. That includes eliminating 5,000 to 5,500 jobs. That represents 12 to 13 percent of the company’s workforce across all business segments and geography. About half the cuts will be in North America. Job cuts depend on the needs of the business and negotiations with unions and other labor groups according to spokesman Bob Brand. The Paris plant employees approximately 499 employees with annual revenue of $100 to 400 million.