Whirlpool Is Cutting 1,000 Jobs as US Appliance Demand Remains Stagnant [BNN Bloomberg (Canada)]
Whirlpool Corporation (WHR)
Last whirlpool corporation earnings: 4/30 04:10 pm
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Source: BNN Bloomberg
The company has completed its first wave of layoffs of office staff and is planning to start another soon, Chief Financial Officer Jim Peters said in an interview. Earlier this year, the company said it was cutting jobs without saying how many. Whirlpool employed 59,000 workers worldwide as of the end of 2023. “The discretionary side that's driven by existing home sales really has seen no pick up and no benefit yet,” Peters said, referring to weak US demand. “We're simplifying our structure,” he added. The Benton Harbor, Michigan-based company is trying to reduce expenses by about $400 million this year, but that's proving tougher than expected due to higher costs for labor, transportation and logistics. “We've seen inflation remain sticky,” Peters said. Sales of large appliances in North America fell 8.1% in the first quarter from a year earlier, Whirlpool announced Wednesday. Revenue was $4.49 billion in the period, a decline of 3.4% and below analysts' average estimate. Lo
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News
- Whirlpool making additional layoffs as part of global workforce reduction [Seeking Alpha]Seeking Alpha
- Induction Cooktops Market to Attain Valuation of USD 15.50 Billion By 2032: Astute Analytica [Yahoo! Finance]Yahoo! Finance
- Whirlpool Co. (NYSE: WHR) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- The best places to find pre-Memorial Day appliance deals [CBS News]CBS News
- Whirlpool Co. (NYSE: WHR) had its price target lowered by analysts at Royal Bank of Canada from $85.00 to $79.00. They now have an "underperform" rating on the stock.MarketBeat
WHR
Earnings
- 4/24/24 - Beat
WHR
Sec Filings
- 5/3/24 - Form 8-K
- 4/30/24 - Form 4
- 4/25/24 - Form 10-Q
- WHR's page on the SEC website