I would think that all of the diapers the latest FightBaby goes through may have helped Kimberly-Clark (NYSE: KMB) a bit, but that was not the case.
The home of Kleenex and Huggies announced yesterday that it will cut 1,600 jobs, roughly 3% of its total workforce. A majority of the cuts will come from salaried and nonproduction workers; the company does not plan to close any plants. The company believes that these cuts will save roughly $150 million a year, or 25 cents per share. These results will be reflected the most in the second quarter, when the company will record $110 million of the costs.
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