(Reuters) – Kleenex and Huggies maker Kimberly-Clark Corp said on Tuesday it expects to eliminate 5,000-5,500 jobs, or 12-13 percent of its workforce, as part of its global restructuring program.
The company said it expects to close or sell about ten manufacturing facilities and would exit or divest some lower-margin businesses.
The restructuring is expected to broadly impact all the business segments of the company, it said.
The cost-savings program, which will begin in the current quarter, is expected to be completed in two years and the company sees incurring related pretax charges of $1.7 billion to $1.9 billion over that period.
Kimberly-Clark said the program would generate annual pretax cost savings of $500…
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