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Whirlpool Restructuring Will Start in Brazil

February 01, 2001|Reuters

Whirlpool Corp. said the first phase of a global restructuring will see the lion's share of the job cuts in Brazil, where the largest U.S. appliance marker will close its refrigerator factory in Sao Bernardo, eliminating 1,000 jobs. Benton Harbor, Mich.-based Whirlpool said the first phase of a restructuring it announced in December also will cut 250 jobs in Europe and about 400 in Asia as it sells facilities and outsources non-core operations in India and China. In North America, about 300 positions already have been cut through voluntary retirement and targeted reductions. Another 100 positions will be eliminated, primarily through the outsourcing of Whirlpool's spare parts packaging operations. The 2,000 job cuts announced are a third of the 6,000 that Whirlpool has said it plans to cut under the restructuring plan. That amounts to 10% of the firm's total work force. Whirlpool shares closed up 88 cents at $52.49 on the NYSE.

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