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 increasing inequality and rocky transition to market capitalism has created a rising tide of wildcat strikes from independent trade unions, who have found powerful allies in national student communist movements whose members were made to study Marxism in an effort to purge the country's intelligentsia of "bourgeois" ideologies of liberalism and democracy.
Bernie Sanders's latest legislative proposal is the Stop Walmart Act; Sanders describes Walmart as the "poster child for corporate greed" and uses that as a launching point to propose a ban on stock buybacks from companies unless they pay their lowest-waged employees $15/hour.
The Nairobi neighborhood of Kibera is Africa's largest slum, and it's home to an unlikely, Silicon-Valley-style tech park operated by Samasource (motto: "Artificial intelligence meets human dignity"), who serves clients from Google to Microsoft to Salesforce, using clickworkers who get paid $9/day, compared to the going wage of $2/day in the region's "informal economy" (the […]
Ever wondered what it takes to make the transition from amateur photography to a full career? If you answered “a better camera,” you’re half right. Before you get the equipment, get the know-how to use it with the Hollywood Art Institute Photography Course & Certification. Taught by experienced pros, this course is geared towards shutterbugs […]
Anyone can learn piano, but don’t tell that to the bored kids who had to endure hours of “Chopsticks” and similar drills in their music lessons. Today, there’s a better way. Pianoforall lets you jump right in to discover what makes music fun, leaving you eager to learn more. In a simple but innovative approach, […]
There are two times you never want to just “eyeball” it: Conducting brain surgery and matching shades of paint for your walls. Whether you’re painting or repainting, make sure you’re never just “close enough” to the color you want. Not when the Nix Mini Color Sensor can scan and match any color perfectly. Small enough […]