Fundamental changes are underway within our industry and our Company, including increased competition globally and changing markets for our products, with the bulk of future sales growth expected to occur in emerging markets. At the same time, companies are expanding their sourcing in these lower-cost emerging markets, as a way to serve both local markets and the global supply chain. These changes are affecting not only how we manage our operations, but also how we engage with and affect the communities in which we operate.
In North America, we are taking some significant and difficult actions as part of our effort to restore these operations to profitability. These actions include idling facilities, reducing employment and reducing the amount we spend on charitable contributions. We recognize and regret that these actions will have negative consequences in the affected communities, and we are working closely with our stakeholders to manage them responsibly. See Financial Health for more information.
