Kimberly-Clark Corp said on Thursday that it would cut about 1,600 salaried jobs, or roughly 3 percent of its workforce and take up to $150 million in charges as it tries to become more competitive in the recession.
The company, which makes Kleenex tissues and Huggies diapers, already completed a restructuring that began in 2005 and included cutting about 6,000 jobs.
Kimberly-Clark said the latest round of job cuts would hit all regions and businesses and would primarily impact salaried and non-production jobs. The company does not plan to close any manufacturing facilities.
Kimberly-Clark expects to record charges of $140 million to $150 million, or about 25 cents per share, mostly affecting the second quarter. It expects the plan to drive savings of about $60 million, or 10 cents per share, during the second half of the year.
Join the Discussion