BUSINESS

Kimberly-Clark to eliminate up to 1,300 jobs as part of restructuring efforts

10/21/2014 09:59 EDT | Updated 12/21/2014 05:59 EST
DALLAS - Kimberly-Clark plans to eliminate up to 1,300 jobs as part of restructuring efforts aimed at reducing costs and making its business more efficient.

The consumer products company has 58,000 workers worldwide, according to its website.

Kimberly-Clark Corp. said Tuesday that it anticipates restructuring costs between $130 million and $160 million, after taxes. The company — whose brands include Kleenex and Huggies — foresees between $120 million and $140 million in savings by the end of 2017.

The restructuring is expected to be completed by 2016's end.

Kimberly-Clark also cut its 2014 adjusted profit forecast to account for the spinoff of its health care business. The Dallas company now expects an adjusted profit between $5.93 and $6.03 per share, down from its prior range of $6 to $6.15 per share. Analysts polled by FactSet expect $6.06 per share.