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Article: Kimberly-Clark Spin-Off Not Likely to Mean Job Cuts for Neenah, Wis., Workers.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 26, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Post-Crescent, Appleton, Wis. Knight Ridder/Tribune Business News
Feb. 26--NEENAH, Wis. -- No job losses are foreseen when the Valley's largest employer, Kimberly-Clark Corp., spins off its premium writing paper arm, Neenah Paper.
"If the spin-off occurs, it's unlikely the level of employment would change significantly," said Dave Dickson, Dallas-based K-C spokesman. "And the new company will likely provide benefits, including pension, which are similar to K-C's program."
Wall Street evidently approved of the proposed corporate restructuring: K-C stock opened at $63.75 Wednesday and by mid-morning today had reached $64.35, based ...