Whirlpool plans to cut 5,000 jobs, about 10% of its workforce in North America and Europe, as it faces soft demand and higher costs for materials.
The world's biggest appliance maker also on Friday cut its 2011 earnings outlook drastically and reported third-quarter results that missed expectations, hurt by higher costs and a slowdown in emerging markets.
For more: Whirlpool to cut 5,000 jobs in US and Europe amid weak demand | Detroit Free Press | freep.com
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