https://www.moodyonthemarket.com/additional-employee-cuts-announced-at-whirlpool-corporation/
Not sure who all were impacted today. I heard GSS, GIT, finance and HR
4 replies (most recent on top)
Whirlpool is a sales and marketing company and not an engineering company. Billions spent on sales and marketing programs to dupe people into purchasing their inferior products vs. proper funding and focus on R&D and engineering for products that sell themselves. Leadership people were and are simply too ignorant to understand this. Bitzer is a marketing guy that is no where near qualified to lead Whirlpool; however, the leadership problems for this company were seeded long ago. It was sad to witness the demise of this company from the inside. If I wrote a book detailing all that I witnessed and experienced while working at this company, people would absolutely think it's fictional. Former Whirlpool engineer.
Why isn't management being held responsible for their mistakes? Agreed with one of the posters that the leadership needs to change based on performance. Anyone else would be held responsible.
Marc Bitzer has really run Whirlpool into the ground.
His tenured started Oct 1 2017.
- DJIA close that day 24,719.22
- Whirlpool stock close that day 161.77
If NO growth occured and we adjust those dollar amounts for inflation of 1.29 from Oct 2017 to today that gives
- DJIA close that day adjusted to today's dollars as 31,887.79
- Whirlpool stock that day adjusted to today's dollars as 208.68
Let's look at yesterday's ACTUAL numbers.
- DJIA close 44,534.34
- Whirlpool 98.82
The Dow has increased value by 40%, when adjusted for inflation, and Whirlpool stock has dropped in value by nearly 53%, when adjusted for inflation, since Bitzer took over.
Whirlpool is not going to attract investment. I don't know how he is still in charge. He continuously tries to take out cost in a business that probably has little waste left. Whirlpool needs new leadership if it is to survive.
I was impacted. Let's just say, I haven't been here very long. I never knew a company could he so badly managed. Whirlpool takes the cake when it comes to mismanagement.