Kimberly-Clark said Tuesday it will cut as many as 5,500 jobs, or 13 percent of its workforce, in an attempt to lower costs. The job cuts come as the maker of Huggies and Kleenex - like other consumer-products companies - is seeing a decline in demand for some core products as US birthrates fall. According to the National Center for Health Statistics, the general fertility rate fell 11 percent between 2007 and 2016. In 2016, the teen birth rate fell to a record low, falling nine percent from 2015. The company is looking to save more than $1.5 billion between 2018 and 2021 as part of its ongoing cost-savings program.

Source: Daily Mail January 23, 2018 21:33 UTC