Kimberly-Clark to cut workforce by 12-13 percent

(Reuters) - 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 Kleenex and Huggies maker said the restructuring program would generate annual pre-tax cost savings of $500 to $550 million by the end of 2021.

The program is expected to broadly impact all its business segments and organizations in every major region, Kimberly-Clark said.

RELATED: 20 companies that create the most profit per employee

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20 companies that create the most profit per employee
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20 companies that create the most profit per employee

#20: Industrial Bank
Country: China
Profit: $8.1M
Employees: 56,236
Profit per employee: $144,141

#19: Cisco Systems
Country: U.S.
Profit: $10.7M
Employees: 73,700
Profit per employee: $145,712
#18: Microsoft
Country: U.S.
Profit: $16.8M
Employees: 114,000
Profit per employee: $147,351
#17: Commonwealth Bank of Australia
Country: Australia
Profit: $6.7M
Employees: 45,129
Profit per employee: $148,749
#16: Shanghai Pudong Development Bank
Country: China
Profit: $8M
Employees: 52,832
Profit per employee: $151,287
#15: Westpac Banking
Country: Australia
Profit: $5.5M
Employees: 35,280
Profit per employee: $155,244
#14: Tencent Holdings
Country: China
Profit: $6.2M
Employees: 38,775
Profit per employee: $159,533
#13: Qualcomm
Country: U.S.
Profit: $5.7M
Employees: 30,500
Profit per employee: $187,049
#12: SoftBank Group
Country: Japan
Profit: $13.2M
Employees: 68,402
Profit per employee: $192,442
#11: AbbVie
Country: U.S.
Profit: $6M
Employees: 30,000
Profit per employee: $198,433
#10: Goldman Sachs Group
Country: U.S.
Profit: $7.4M
Employees: 34,400
Profit per employee: $215,058
#9: Taiwan Semiconductor Manufacturing
Country: Taiwan
Profit: $10.3M
Employees: 46,968
Profit per employee: $218,951
#8: Alphabet
Country: U.S.
Profit: $19.5M
Employees: 72,053
Profit per employee: $270,329
#7: Apple
Country: U.S.
Profit: $45.7M
Employees: 116,000
Profit per employee: $393,853
#6: Amgen
Country: U.S.
Profit: $7.7M
Employees: 19,200
Profit per employee: $402,188
#5: National Grid
Country: U.K.
Profit: $10.2M
Employees: 22,132
Profit per employee: $458,639
#4: Facebook
Country: U.S.
Profit: $10.2M
Employees: 17,048
Profit per employee: $599,308
#3: Freddie Mac
Country: U.S.
Profit: $7.8M
Employees: 5,982
Profit per employee: $1,306,419
#2: Gilead Sciences
Country: U.S.
Profit: $13.5M
Employees: 9,000
Profit per employee: $1,500,111
#1: Fannie Mae
Country: U.S.
Profit: $12.3M
Employees: 7,000
Profit per employee: $1,759,000
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The company also reported a near 1 percent rise in fourth-quarter net sales to $4.6 billion, compared with a year earlier.

The company said it expects net sales in 2018 to improve by 1 percent to 2 percent.

(Reporting by Sangameswaran S in Bengaluru; Editing by Maju Samuel)

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