Kimberly-Clark, the maker of Huggies diapers and Kleenex tissues, announced Tuesday it will cut about 13 percent of its workforce globally, or at least 5,000 jobs, in a bid to reduce costs as sales wane.

The company plans to shutter or sell 10 of its 91 production factories worldwide.

In all, it is anticipating more than $2 billion in cost cuts by 2021. About $1.5 billion will come from reducing costs within its business. An added $500 million to $550 million will come from the efforts to streamline its manufacturing supply chain and overhead.

For years, consumer companies have enjoyed what has been widely considered to be overly optimistic stock prices. Now, the names are grappling with the reality of a new landscape.

These companies must find growth to match up with investors’ expectations, but are faced with changing shopping habits and competitive pressures……more here