Kimberly-Clark laying off 5500 employees

[Deleted]

Despite a $3.3 billion operating profit and a 3.1 percent increase in the 2018 quarterly dividend. But clearly, it's taxes that are hurting manufacturing.

www.npr.org/sections/thetwo-way/2018/01/23/580029629/kimberly-clark-announces-layoffs-along-with-3-3-billion-in-operating-profit

[Velar Fricative]

And he said their tax savings is helping fund the job cuts!!!

[isabel]

"The CFO of Kimberly-Clark just said on a conference call that the tax cuts "provides us the flexibility" to pay for the "restructuring" plan. In other words, the tax cut is funding the job cuts."

So much for bigly job creation.

[miniroller]

Jan 23, 2018 16:40:24 GMT -5 isabel said:

"The CFO of Kimberly-Clark just said on a conference call that the tax cuts "provides us the flexibility" to pay for the "restructuring" plan. In other words, the tax cut is funding the job cuts."

So much for bigly job creation.

I.e. Basically the tax cut is going to enable companies to design & build machines/ robotics to replace humans.
FANTASTIC.

[pitta12]

Ugh, I hadn't thought about the tax cuts being literally used to fund severance packages, but that makes total sense. Fucking GOP.

[isabel]

Jan 23, 2018 16:48:04 GMT -5 miniroller said:

Jan 23, 2018 16:40:24 GMT -5 isabel said:

"The CFO of Kimberly-Clark just said on a conference call that the tax cuts "provides us the flexibility" to pay for the "restructuring" plan. In other words, the tax cut is funding the job cuts."

So much for bigly job creation.

I.e. Basically the tax cut is going to enable companies to design & build machines/ robotics to replace humans.
FANTASTIC.

The thing is, this was going to happen anyway. But instead of the federal government actually making some money to, you know, pay for "entitlement" programs, like the ones that will keep all these people who get laid off from starving and dying in the streets, they made it easier for private companies to afford to create cheaper labor/automation AND reduced the amount of money available to fund federal programs. Great idea, guys! Really, top notch.

[fumbalina]

While I am not happy about people losing their employment. I am happy that this company is being upfront about what they are doing with their tax savings. Unfortunately, I do not think this will help to fuel the narrative like I would expect, but it does put information out there about some of the realities.

[downtoearth]

Jan 23, 2018 16:48:04 GMT -5 miniroller said:

Jan 23, 2018 16:40:24 GMT -5 isabel said:

"The CFO of Kimberly-Clark just said on a conference call that the tax cuts "provides us the flexibility" to pay for the "restructuring" plan. In other words, the tax cut is funding the job cuts."

So much for bigly job creation.

I.e. Basically the tax cut is going to enable companies to design & build machines/ robotics to replace humans.
FANTASTIC.

The best part is that I can't be mad at Kimberly-Clark or other larger manufacturing companies.  They are not performing some veiled attempt at hiding how much automation and robotics are playing into future of US jobs, and haven't been for years. It's only Trump and a generation of unskilled manufacturing workers in more rural US who think that excess money is going to go back to pay workers a lifetime of benefits and pensions.  The fabrication, manufacturing, and technology industry has not thought like this for decades.  Anyone involved with FabTech and other big industry conferences/organizations knows that robotics and technology is their focus for the future and that skilled technicians and programmers are needed much more than an unskilled workforce in manufacturing/welding/fabrication.

Trump and the GOP have sold their tax break to the American public on lies, not the manufacturers/fabricators.  The tax break profits large companies who have routinely shown that they don't, and have been moving away from since the 1990's, unskilled workforce as their backbone.

[tres3]

when Sarah Sanders was rattling off all these new jobs and bonuses because of the "tax cut" how come she didn't mention K-C today?

[Michelle]

ugh.

The republicans (white males - coincidence?) in my HR leadership team have made the following comments since the tax cut announcement:

1) So, has everyone looked at their Fidelity balances? I don't know about you but mine went up 19 percent in one quarter. 19 percent. That is huge.
2) I just want to let everyone know that employees are going to see a net increase in their paychecks this pay period as a result of the changes to the tax plan. So if you get a lot of questions about sudden pay increases, you should know that no pay increases were put in this pay period - it is just a result of the tax law changes.

And those of us who hate trump (some white females) are saying,
1) Here is the current state of our DACA and TPS employees. Here is a timeline (of Trump and party being an asshole); here is the distribution of where these employees work. Here is the percentage that are working in a job that is eligible for employer-based sponsorship. But then these are the only entities eligible to use that, so they'd have to transfer to get sponsored. (For DACA - ok wait now there is a federal injunction so they can stay employed but their future is uncertain).
2) Here are the employee Benefit calls that have shot up as a result of the elimination of CHIP.
3) Here is an update of our nursing student pipeline. X number have fallen out because of immigration issues as a result of the DACA and TPS announcements.
4) Here is updated legislation that we need to stay on top of - we are not sure how this new group that will ensure religious choice will impact our current diversity and inclusion efforts; we have to stay tuned, the future is unclear

All the management of color sit there quietly with raised eyebrows watching the volleying back and forth.

I hate Donald Trump and company.

[miniroller]

downtoearth As a business owner, of course I don’t fault these companies. I completely agree this is the future for manufacturing for which we need to properly & proficiently train employees!
It’s still completely disheartening that the first part gets news coverage, but the second part is only announced to the ones paying attention. Broken record, I know.