Today international paper products manufacturer, Kimberly-Clark, announced that it may close up to 10 plants worldwide and reduce their workforce by 5,500 people. Despite having plants in 35 different countries and I would assume markets in far more…they are blaming the slow growth rate in the United States as part of the problem…and universal bogey man Amazon as another. This is a cause of concern in Wisconsin because KC has a number of facilities here that might be affected.

But here’s the interesting take away:

Chief Financial Officer Maria Henry said on a conference call that savings from the recent federal tax cut would help fund the cost reductions. It “provides us the flexibility” to do so, she said.

Whoa, wait a minute! Weren’t the tax cuts going to spur investment and increase jobs? I wonder what Representative James Sensenbrenner (R-WI) thinks?

3 Responses to Kimberly-Clark Didn’t Get The Memo!

  1. onevote says:

    Great commentary on this economic mess.

    Sensenbrenner is heir to Kimberly-Clark fortune, which got him into politics, and later ushered in their corporate move to Texas headquarters.

    Makes you wonder whether business is about serving our people, providing jobs and demand, or just satifying a wealthy few international capitalist financiers.

  2. Sue says:

    Like a rocket.

  3. Jake formerly of the LP says:

    These “profit-maximizing” layoffs are coming fast and furious now that corporations have even more incentive to hoard profit and cut “expenses.”

    Had enough of this “winning”, yet? You still waiting for that trickle down, SUCKERS?

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