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)
China's move into a "mixed economy" has created a wealth inequality crisis to rival any nation's; wildcat workers' strikes (aided by Young Communist movements) have become increasingly common, though they are not often reported in the news (it helps that Chinese state media and the country's official censors suppress these reports).
The Trump administration is very proud of the US's historically low unemployment figures (lowest in 50 years), but statistics are deceiving, especially labor statistics.
114,659 of New York's public school students is homeless, bouncing from shelters to relatives' beds: homelessness is a predictor of poor academic performance for all the obvious reasons, including very long commutes to school (some students' families have ended up at shelters that are two boroughs away from their schools).
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Multinational companies have used the no-nonsense methodologies of Six Sigma and Lean Six Sigma to oil a smooth-running operation for years. What is it? Six Sigma (and its offshoot, Lean Six Sigma) apply the principles of science to business, teaching managers to methodically target waste, maximize output and streamline the flow from producer to consumer. […]