Whirlpool Corp., the owner of the Maytag and Amana appliance brands, is cutting about 1,000 salaried positions worldwide to reduce costs as slow U.S. home sales limit demand.
The company has completed its first wave of layoffs of office staff and is planning to start another soon, Chief Financial Officer Jim Peters said in an interview. Earlier this year, the company said it was cutting jobs without saying how many. Whirlpool employed 59,000 workers worldwide as of the end of 2023.Shares of Whirlpool fell to their lowest price in more than four years
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Job cuts announced at Whirlpool
Whirlpool made the surprise announcement that the company will be shifting to “a more simplified and focused business model as part of its ongoing portfolio transformation.”
The company confirmed in a prepared statement that the transformation includes job cuts.
Job elimination discussions were said to have commenced this morning. Monday’s focus is apparently looking at reorganizing the top layers of the company and select areas of work.No word yet on the number of job cuts associated with the announcement
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