Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Kimberly-Clark: 5,500 People Just Lost Their Jobs Because Of The Trump Tax Cuts
.
Kimberly-Clark, which also produces Huggies diapers, Kotex feminine hygiene products, Cottonelle toilet paper and Scott paper towels, plans to cut up to 5,500 jobs and close or sell about 10 plants. The Dallas-based company blamed sluggish sales and a bloated production base.
The company said it plans to shed $500 million to $550 million in costs before 2022 through a restructuring plan that involves "streamlining and simplifying its manufacturing supply chain and overhead."
The move comes after competitors slashed prices on tissues, damaging Kleenex sales in North America.
Savings from the recent federal tax cut would help fund the cost reductions. It "provides us the flexibility" to do so, Chief Financial Officer Maria Henry said on a conference call.
The company said it plans to shed $500 million to $550 million in costs before 2022 through a restructuring plan that involves "streamlining and simplifying its manufacturing supply chain and overhead."
The move comes after competitors slashed prices on tissues, damaging Kleenex sales in North America.
Savings from the recent federal tax cut would help fund the cost reductions. It "provides us the flexibility" to do so, Chief Financial Officer Maria Henry said on a conference call.
https://www.usatoday.com/story/money/2018/01/23/kleenex-huggies-maker-cut-up-5-500-jobs-close-10-plants/1057016001/
The reality behind the Trump tax cut for workers.
For all the chatter about one time only $1,000 bonuses being handed out big corporations as a PR stunt, the reality is that companies aren’t using their tax savings to create jobs. They are using the money to fund cost reductions and layoffs. Closing plants or moving to more automation costs money, and now thanks to Trump and Republicans in Congress, Kimberly-Clark now has the extra money to lay off workers and close factories.
The thousand dollar bonuses are change under the cushions level spending compared to hundreds of millions of dollars in tax breaks that they will receive from the permanent cut.
Corporations are using the tax cut to lay workers off
The tax cuts aren’t creating jobs. It’s killing them. AT&T has laid off 4,000 workers. Comcast fired 500 employees right before Christmas. Companies are taking their tax cuts and using them to slash their labor force because it under Trump laying off workers has gotten less expensive.
For all the chatter about one time only $1,000 bonuses being handed out big corporations as a PR stunt, the reality is that companies aren’t using their tax savings to create jobs. They are using the money to fund cost reductions and layoffs. Closing plants or moving to more automation costs money, and now thanks to Trump and Republicans in Congress, Kimberly-Clark now has the extra money to lay off workers and close factories.
The thousand dollar bonuses are change under the cushions level spending compared to hundreds of millions of dollars in tax breaks that they will receive from the permanent cut.
Corporations are using the tax cut to lay workers off
The tax cuts aren’t creating jobs. It’s killing them. AT&T has laid off 4,000 workers. Comcast fired 500 employees right before Christmas. Companies are taking their tax cuts and using them to slash their labor force because it under Trump laying off workers has gotten less expensive.
http://www.politicususa.com/2018/01/23/5500-people-just-lost-jobs-trump-tax-cut-corporations.html
.
22 replies
= new reply since forum marked as read
= new reply since forum marked as read
This is just criminal! 
Doesn't matter that giant mega corporations are just using this as bait before they lay off hundreds of thousands of workers, they just got $1,000! $1,000 fucking dollars! All that $1,000 does is remind you of how badly you're getting fucked by the system that rewards rich criminals and ignores the middle class. 
