Whirlpool, the global kitchen and laundry home appliance company has announced its plan to reduce its workforce by cutting up to 1,000 jobs globally. This will be the second round of layoffs at Whirlpool after March.
The latest round of job cuts which is expected to happen in early May and is aimed at reducing costs. According to the Wall Street Journal, Whirlpool aims to trim up to $400 million in costs this year.
The company had about 59,000 employees globally as of last year, according to its annual filing.
The home appliance maker reported strong Q1 performance from Latin America, Asia, and SDA Global driven by share gains and cost performance, offset by challenging macro environment in North America, as expected.
“During 2024, we have demonstrated our commitment to our capital allocation priorities,” said Jim Peters, chief financial and administrative officer. The company launched several new products, declared very strong dividends in Q1 and Q2, and repaid $500 million of maturing term loan, informed Peters.
