Wednesday, May 10, 2006
The Economy Is Booming!
Whirlpool to shutter plants, layoff 4,500
Appliance firm blames merger with rival, noting it would close three Maytag plants.
May 10, 2006: 2:01 PM EDT
NEW YORK (Reuters) - Whirlpool Corp. said Wednesday it would cut 4,500 jobs, or nearly 6 percent of its work force, as it closes three laundry appliance plants and various offices including the Iowa headquarters of recently acquired Maytag.
Whirlpool, the world's largest appliance maker, said it planned to create about 1,500 jobs at Whirlpool locations, resulting in a net loss of about 3,000 positions after the closures are complete.
Whirlpool, with about 80,000 workers, also said it would continue to consider options that include the potential sale of the Hoover vacuum unit and various Maytag commercial businesses, including Dixie-Narco vending equipment and Jade commercial appliances.
The Maytag plants slated for closure include a washer and dryer plant in Herrin, Illinois, which employs about 1,000; a dryer facility in Searcy, Arkansas, with 700 workers; and a washer and dryer-making plant in Newton, Iowa, which employs about 1,000.
[Read the rest here.]