Whirlpool plans cuts as demand slumps
Oct 31, 2011 | 03:15 PM
| Corinna Petry
Tags
Whirlpool,
earnings results,
plant closures,
layoffs,
consumer confidence
CHICAGO — Appliance manufacturer and major metal consumer Whirlpool Corp. said U.S. demand for appliances has slumped back to recession levels, forcing the company to significantly restructure its operations.
The large-scale restructuring plans include the layoff of more than 5,000 employees—including some 10 percent of the company’s North American work force—as well as the closure of its Fort Smith, Ark., refrigeration manufacturing plant by mid-2012.
"Production from this facility will be consolidated into (other) North American sites in order to leverage existing capacity," the company said in a statement accompanying its third-quarter results.....
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