Jobs
Whirlpool is cutting 1,000 jobs
(WNDU) – Whirlpool Corporation is reportedly cutting 1,000 jobs worldwide.
Whirlpool said a month ago it was cutting jobs without saying how many. The first round of layoffs targeted office staff, and a second round is expected soon.
According to Bloomberg, this is set to affect salaried jobs due to appliance demand wanes.
The company saw its stock take a hit in the wake of the news. Shares were down more than 11% as of Thursday morning.
CFO Jim Peters says a slowdown in home sales has curbed demand, causing sales to fall short of projections. The company is aiming to reduce expenses by $400 million for the fiscal year.
Whirlpool had 59,000 workers globally at the beginning of this year. It’s not clear where the jobs are being cut.
The company’s global headquarters are located just north of Benton Harbor in Berrien County.
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