A leading kitchen and laundry appliance company, Whirlpool is planning to cut 1000 jobs worldwide in a restructuring move.
According to Reuters, The company announced initial job cuts in March and anticipates implementing a second wave of reductions by early May.
Whirlpool aims to trim up to $400 million in costs this year, the Wall Street Journal, which reported the news earlier in the day, quoted the company’s chief financial officer, Jim Peters
The company had about 59,000 employees globally as of last year, according to its annual filing. Whirlpool also reported a 3.4% drop in its first-quarter net sales to $4.49 billion on Wednesday.
Whirlpool Corporation is in constant pursuit of improving life at home and inspiring generations with our brands.
The company is driving meaningful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul, and InSinkErator.
In 2023, the company reported approximately $19 billion in annual net sales., Jim Peters added.
As per Trueup, So far in 2024, there have been 495 layoffs at tech companies with 105,934 people impacted (905 people per day).
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