The manufacturer of popular brands Kleenex tissues, Huggies diapers, and Cottonelle toilet paper announced it plans major cuts.
The company says slow sales and over production are the reasons they need to close or sell 10 plants and cut 5,500 jobs.
The recent federal tax cut will help the company and provides them with flexibility to streamline its manufacturing supply chain and reduce overhead.
CEO Thomas Falk said, “we expect market conditions will remain challenging in the near-term…these are difficult but necessary actions.”
