NEW YORK (AP) — A bankruptcy judge on Thursday ruled that a group representing General Motors Corp.'s salaried retirees cannot form a formal committee to negotiate with the automaker as it attempts to reorganize and emerge from Chapter 11 as a new company.
U.S. Judge Robert Gerber said that since GM had the right to modify or terminate the retirees' health care and life insurance benefits before they filed for bankruptcy protection, the retirees can't challenge the automaker's ability to do so now.
Now lets take a look at this guys, these guys make all the bucks for their entire career and now while in retirement they want the ability to renegotiate their contracts in retirement. Wonder how many blue collars whom have retired would like to do the same thing. Give me a break!!
Huggies and tissue-maker Kimberly-Clark Corp.said Thursday the company will cut 1,600 positions from its global work force. The reduction includes 600 employees who accepted voluntary severance packages earlier this year.
Irving, Texas-based Kimberly-Clark (NYSE: KMB) said the cuts will save $150 million annually. The company has yet to confirm if or how many cuts will occur in the Dallas-Fort Worth area.
About 750 jobs will be cut in the United States. with the reductions occurring in Europe and other international locations. The layoffs will affect salaried and nonproduction jobs; manufacturing facilities are not part of the reductions, Kimberly-Clark said.
Give a Hand to Kimberly-Clark! Lets cut the fat guys......the people who make the products keep their jobs. More companys need to start looking at where their fat is at! The guys on the bottom are not costing the company, they are making the company money, and they know how!! lets cut the fat which due to the poor decision making ability of some of these yo yo's has run some good companies into the ground and profits down with it. I'm like Buffett I believe in the ability of the American worker, he or she can make a product like no other one in the world if given the freedom and opportunity to do so.
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