Whirlpool Corporation has made a required informational filing with the SEC (Securities & Exchange Commission), detailing the costs of its current ‘restructuring’ program that has resulted in the termination of about 1,000 administrative employees company wide.
Whirlpool CFO Jim Peters filed the official ‘8K’ document Friday. The company estimates the total cost of the moves during the first half of 2024 will be about $ 80 Million Dollars. That consists of $63 to $67 Million in employee termination costs and $13 Million in ‘other associated costs’ according to the Whirlpool official filing.
The company carried out the job cuts in two waves, the second one coming this week. Unofficial, non-company sources estimated at least 450 employees officially assigned to Whirlpool’s headquarters operations in Southwest Michigan were terminated. Others whose jobs were focused on ‘global’ vs North American operations were said to be the most likely affected. The company has not confirmed those numbers other than the 1,000 total estimate.
Whirlpool observers believe the cuts have been completed at this time.
