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Whirlpool Corporation joins several major brands that are trimming their global workforce. The leading kitchen and laundry appliance firm, which also owns the Maytag and Amana appliances, is terminating around 1,000 salaried staff from its offices worldwide.
New Round of Layoffs
According to Bloomberg, Whirlpool Corporation is cutting jobs worldwide to bring down costs. Slow sales in the United States have been limiting demand for some time now. The firm completed the first wave of layoffs, which mostly affected workers in Whirlpool's office.
According to Jim Peters, Whirpool's chief financial officer, the company is planning a new round, which will start soon. This comes after the first round of terminations earlier this year. The firm did not say how many were laid off at that time, but it had a total of 59,000 staff worldwide as of December 2023.
"The discretionary side that is driven by existing home sales really has seen no pickup and no benefit yet," Peters said in an interview, commenting on the slow demand in the US. "We are simplifying our structure."
Whirlpool Tries to Offest the Low Demand
The Wall Street Journal reported that in an attempt to boost its sales, Whirlpool has lessened its discount offerings and promotions. It also started focusing on smaller, countertop-type appliances like its KitchenAid range of mixers and blenders.
Whirlpool turned to small appliances to compensate for the low demand for large appliances. Moreover, the company is adding a new category in the hopes of increasing sales. Under the new category, it has entered the coffee-making business by introducing fully automatic espresso makers. Whirlpool affirmed that these kinds of smaller appliances are more profitable today.
Photo by: Whirlpool Website
