WKYT | Lexington, Kentucky | News

Whirlpool To Cut 5,000 Jobs By End Of 2009

GRAND RAPIDS, Mich. (AP) - Whirlpool Corporation says today it
is eliminating about 5,000 jobs this year and next, due in large
part to the long downturn in the U.S. housing market.

The moves will bring more work to a Whirlpool plant in Findlay,
Ohio.

The nation's largest home appliance maker also reported that its
earnings fell 7 percent during the third quarter on lower global
unit volumes and higher material costs. Michigan-based Whirlpool
lowered its earnings outlook for the year and announced price
increases.

Shares of Whirlpool dropped 8.3 percent, or $4.16, to close at
$45.87. They have traded as high as $98 within the past year.
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On the Net:
Whirlpool Corp.: http://www.whirlpool.com

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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