Whirlpool To Cut 1,100 Jobs, Close IN Factory
BENTON HARBOR, Mich. (AP) — Whirlpool Corp. said Friday it will cut 1,100 jobs and close a refrigerator factory in Evansville, Ind., to cut excess production capacity.
The jobs will be eliminated in mid-2010. The Benton Harbor, Mich.-based appliance maker has aggressively cut costs as demand for big-ticket items has shrunk in the recession.
The company said it is still deciding what to do with 300 employees who work at a product-development center at the Evansville location.
Whirlpool will move the main Evansville production work to Mexico and another yet-to-be-decided location.
Al Holaday, Whirlpool's vice president of North American manufacturing, said the cuts were "difficult but necessary."
Its profit outlook for 2009 remains unchanged from a July forecast of $3.50 to $4 per share.
Whirlpool shares rose $1.04 to $65.58 in morning trading.