Whirlpool Expects to Rack Up $280 Million in Restructuring and Severance Costs
Home appliance company Whirlpool (NYSE: WHR) announced this week in an SEC filing that it expects to pay between $260 million and $280 million in restructuring costs this year, including severance pay for terminated workers. Whirlpool earlier launched cost-cutting initiatives such as limiting business travel, furloughing employees, and encouraging voluntary retirements. Whirlpool has not yet said how many employees will be terminated as a result of the new decision.