Whirlpool making additional layoffs as part of global workforce reduction
04/05/2024
Whirlpool Corp. (NYSE:WHR) after Friday’s closing bell said it would be making additional employee layoffs.
In March, the appliance manufacturer first began a global workforce reduction plan which included providing severance payments. The company’s total costs associated with these layoffs was $23M.
In late April, Whirlpool (WHR) said it began another workforce reduction with associated costs of $52M-$57M, primarily in employee termination costs, that will likely be incurred in Q2.
The company added it expects total restructuring charges of $75M-$80M in 2024 related to the layoffs, which should be completed by the end of the year.