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Kimberly Starts Restructuring Plan
Aug 16, 2018

Kimberly starts restructuring plan

Kimberly recently announced a global restructuring plan for 2018 that it would close 10 factories and cut 5,000 to 5,500 jobs, i.e., about 13 percent of its workforce. The restructuring also includes investments to stop low-margin businesses, mainly in the household paper products sector, which accounts for only 1% of Kimberly's total sales. The restructuring plan is the largest reorganization since the company set up its global business department in 2003. Through restructuring, it is estimated that by 2021, Kimberly will save 500 million ~5.5 billion dollars.

Kimberly hasn't disclosed the addresses of the 10 factories and the details of the business to be stopped for investments, saying only that the world's major markets will be affected, and that these factories may be closed, not sold.

Kimberly called the restructuring plan a proactive strategic adjustment. CEO Tom Falk said: "We have a positive attitude towards business development. The company has a lot of strong brands and strong growth, especially in emerging economies."

Looking ahead, Kimberly expects to continue to develop its personal care products business and to improve many core brands, including Huggies baby diapers, training pants and baby wipes, and Depend adult incontinence products. Falk did not specify the details of these improvements, but said the new product would meet with consumers in the first quarter of 2018.