Whirlpool, a veteran home appliance manufacturer in United States, laid off 1,000 employees worldwide

The company has completed the first wave of office staff layoffs and plans to begin another round soon.

Due to the slowdown in home sales in the United States and the fierce competition among various brands, the overall demand in the US home appliance market has dropped sharply. Whirlpool (Whirlpool), a veteran American home appliance maker with its washing machines and refrigerators, has had to optimize its employees to reduce costs. The latest official news has confirmed that the company will cut at least 1,000 full-time employees worldwide.

Whirlpool's finance Officer (Jim Peters) confirmed in an interview that the company has completed the first wave of office staff layoffs and plans to begin another round soon, Bloomberg reported. In fact, earlier this year, the company said it would cut jobs, without disclosing the number. By the end of 2023, Whirlpool had 59,000 employees worldwide.

One of the main reasons for the layoffs is the sharp drop in demand for large home appliances in the United States. Whirlpool announced on Wednesday that sales of large home appliances in North America fell 8.1% in the first quarter from a year earlier. Revenue fell 3.4% to $4.49 billion, missing the average analyst estimate. At the same time, seeing a downturn in the US housing market and a sharp drop in demand for new refrigerators and washing machines, Whirlpool decided to cut back, hoping to cut spending by $400 million through layoffs.

In addition, Whirlpool has cut discounts and promotions while switching to small appliances to offset weak demand for large appliances.

For many consumers, mentioning Whirlpool, in addition to thinking of washing machines, the brand of refrigerator and freezer, are one of the products that many people love. But now, with the collapse in demand for large home appliances and the change in housing patterns, Whirlpool has also begun to adjust its trend, focusing on portable and small and medium-sized home appliances, launching product categories such as coffee maker and mixer, while raising the company's interest rate.