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Kleenex-maker Kimberly-Clark has said it will close or sell 10 manufacturing plants and cut at least 5,000 jobs – about 12% of its workforce.
The move comes as the Texas company struggles to lift sales. In the fourth quarter of 2017, sales rose by just 1%.
Kimberly-Clark said the restructuring would streamline its supply chain, saving at least $500m by the end of 2021.
The savings are in addition to a plan to reduce costs by $1.5bn in that time.
Kimberly-Clark chief executive Thomas J Falk said the restructuring – which carries costs of as much as $1.9bn by 2020 – will make the company “leaner, …
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