Kimberly Clark, makers of Kleenex and Huggies, says it will lay off 10-12% of its US workforce and divert the savings to shareholder dividends and capital investment (presumably robots to replace the workers, or infrastructure to import finished goods from lower-cost offshore labor markets), and it says that action was triggered by Trump's tax-cuts, which freed up the cash needed to effect the changes.
The company said it plans to use savings from the Republican tax plan to fund the cuts and other restructuring efforts, The New York Times reported. Tax savings would additionally be used for capital investments and to allocate capital to shareholders, CFO Maria Henry said in a call with analysts.
The maker of Huggies and Kleenex is firing up to 5,500 workers — and it's using Trump tax cuts to pay for the layoffs [Kate Taylor/Business Insider]
(via Late Stage Capitalism)
For seven years, Florida state inmates could buy a $100 MP3 player from Access Corrections, the prisons' exclusive provider, and stock it with MP3s that cost $1.70 -- nearly double the going rate in the free world.
There are more people who want to make art than the market would support, and the arts are a highly concentrated industry: combine those two facts and you get a buyers' market for artists' work, controlled by intermediaries, who take almost all of the money generated by the work.
When Josh Black quit his job as Obama's director for U.N. and Multilateral Affairs after the 2016 election (citing "growing disillusionment"), he found a sweet job as Associate Vice President for International Advocacy at Phrma, the global lobbying group for the pharmaceutical industry, which meant that he still got to work at the UN, but […]
We’ve all used Excel at some point in our careers, but chances are most of us have only scratched the surface of what this ubiquitous program can do. From automating simple tasks to presenting data through beautiful charts and PivotTables, Excel brings a ton of utility to the table that can make a huge impact […]
Traveling isn’t always the most comfortable experience, but at least you have your music to keep you company on those long flights. That is, until your chatty neighbor and that crying baby three seats over drown out your playlist. These Paww WaveSound 3 Noise-Cancelling Bluetooth Headphones block up to 20 decibels of audio, so you can […]
SEO can be a fickle creature, but it can work in your favor—you just need the right tools. When it comes to getting your site on that coveted first page of Google, SERPstash Premium simplifies the process with 21 user-friendly tools designed to break down your page’s performance and show you where you can improve. Lifetime […]