Whirlpool, the owner of the Maytag and Amana appliance brands, is cutting about 1,000 salaried positions worldwide to reduce costs as slow US home sales limit demand.
https://www.straitstimes.com/business/whirlpool-is-cutting-1000-jobs-as-us-appliance-demand-remains-stagnant
Whirlpool is restructuring itself in order to sell off their manufacturing and engineering divisions. They will retain the branding rights and kitchen aid small appliances (due to nice profit margins) sell all manufacturing capital and engineering off to a Chinese or Korean owned appliance manufacturer.
Whirlpool corporate is run by finance and marketing. They have no clue how to run a manufacturing business, hence the stock performance and long slow slide into oblivion. They only maintained market share by buying companies. Like Ford and gm in the 90's, they bought companies for market share and then destroyed and diluted their value by forcing design reuse to the point of zero differentiation.
Time for the upper management to go.
Nice work Bitzer! You’ve managed to shepherd us from $252 a share all the way down to $95. Maybe we should save 680 employees jobs and just lay you off with your 14 million dollar salary you over paid greedy failure.