Whirlpool To Cut 5,000 Jobs (Tennessee Plant Will Close)

[OhioChick]

Source: AP

Plant In Tennessee Will Close

POSTED: 8:43 am EDT October 28, 2008
UPDATED: 8:46 am EDT October 28, 2008

Whirlpool Corp. said Tuesday it will cut about 5,000 jobs by the end of 2009 because of the global credit crisis and its expectation for continued reduced demand in North America and Europe.

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. Whirlpool lowered its earnings outlook for the year.

"The global credit crisis has had a profound negative impact on what was already a weakening and very fragile global economy," Jeff M. Fettig, chairman and chief executive, said in a release.

"Declining home values, rising unemployment and very low consumer confidence levels will likely prolong a negative demand environment at least through the middle of 2009."

Read more: http://www.newsnet5.com/money/17819969/detail.html

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5,000 jobs lost.....

[Jackpine Radical]

1. Hey, if Tennessee closes,

where will they all go? Will they still have electoral votes? Will there be no more Grand Ole Opry?

Aw, damn, the headline got edited; now my snarky post is unintelligible. It originally said they are closing Tennessee, not a plant in Tennessee.

[PassingFair]

2. Slow drain.

I know lots of people who moved from Michigan to Tennessee
in the early 00's..

Then they went to North Carolina or Nevada.

Now they are all going to Texas.

:cry:

[WriteDown]

4. They deserve to lose their jobs...

They are like GM and made inferior products to companies like LG while paying their CEO an exorbitant salary :sarcasm:.

[goforit]

3. And watch all 5000 workers go and vote for McCain.

[harun]

5. Exactly what I was thinking.

[douglas9]

6. Whirlpool announces 300 local job cuts

Source: South Bend Tribune

BENTON HARBOR — Whirlpool Corporation announced Tuesday that it will cut 300 salaried position in the Benton Harbor, Mich., area as part of cuts the company is making around the globe.Monica Teague, the company's manager for media relations, said the cutbacks in southwest Michigan were announced to employees Monday. The total cuts of 5,000 jobs are expected to be completed in 2009.

Whirlpool has no plans to close any facilities in the area, Teague told SBT24/7 News. The only North American plant slated for closing is in Jackson, Tenn.

eom

Read more: http://www.southbendtribune.com/apps/pbcs.dll/article?Date=20081028&Category=Biz&ArtNo=810280090&SectionCat=news&Template=printart

[Mari333]

7. I am near St Joe

thats a lot of people for that area..its already depressed in Michigan, this is a TKO for the already floundering Benton Harbor, St Joe area.

[SpiralHawk]

8. Thanks a pantload, republicon economic geniuses

All these troubles are the direct result of republiconomics...The republicons have flushed America's economy and honor down the crapper of shortsighted greed and corruption.

[OhioChick]

9. And the bleeding continues..... n/t

[blue_onyx]

10. 300 isn't as bad as I thought

The news today just said they were eliminating 5000 jobs. They didn't say where the jobs were being cut...I assumed most would be in Michigan. So 300 (while still horrible) isn't as bad as I thought this morning.

[DainBramaged]

11. They will continue to manufacture in Mexico, ANY job lost to over the border

factories or overseas is criminal. It is simply easier for these pricks to continue to increase their margins on the backs of the American worker.

WHORES