IRVING, TX — Kimberly-Clark Corporation is inviting its 7,000 employees to participate in a voluntary severance plan through May 22 that the company hopes will eliminate 1,000 jobs, according to the Appleton Post-Crescent.
The terms of the severance packages will vary depending on the employee's seniority and position, the story stated.
Thomas Falk, Kimberly-Clark's CEO, said: "Improving our cash flow is our first imperative if we are to thrive in the future. That’s the primary driver behind our three cash generation initiatives. When it comes to our organization, there’s no getting around the fact that we have to become a more efficient company to be able to deliver better results consistently through any economic environment."
The company hopes to save around $150 million by eliminating the projected 1,000 salaried jobs, the story noted.
A letter was sent to employees outlining the severance plan and announcing several benefit changes for employees that opt not to accept the buyout, the story added.
Click here to read the complete article.
Friday, May 1, 2009
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