Whirlpool Corp. said it expects to cut roughly 480 full-time
positions at four administrative facilities in Italy as part of the
integration of Indesit Co., which the appliance maker acquired last
year.
Whirlpool said in a regulatory filing Wednesday that some of the
positions had been targeted for elimination before the December
takeover of the Italian company that sells appliances under its
name and the Hotpoint and Scholtes brands.
The deal was expected to roughly double Whirlpool's size in
Europe. At the end of last year, the company had about 100,000
employees, according to its annual report.
The Benton Harbor, Mich., company expects to post
restructuring-related charges of roughly 106 million euros ($121
million) through 2018 related to the job cuts.
Whirlpool said it expects the latest restructuring-related
expenses will fall within its previously reported estimate for
restructuring charges of as much as $300 million for the current
year.
Whirlpool brands include Maytag, KitchenAid, Jenn-Air and
Amana.
Last month, the company reported a first-quarter profit that
missed analysts' estimates and reduced its full-year outlook as
adverse currency effects and weaker demand in Brazil cut into
sales. Whirlpool also unveiled plans to reduce its Brazil workforce
by roughly 15% in an effort to bring costs in line with weaker
sales.
Write to Tess Stynes at tess.stynes@wsj.com
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