Whirlpool On Apr. 29 Began Employee Notification Process For An Additional Global Workforce Reduction Plan; Expects Total Restructuring Charges Of $75M-$80M For Fiscal Year 2024 Estimates That It Will Incur Total Of About $63M-$67M In Employee Termination Costs, About $13M In Other Associated Costs In 2024
Portfolio Pulse from Benzinga Newsdesk
Whirlpool initiated a global workforce reduction plan on Apr. 29, expecting to incur $75M-$80M in restructuring charges for FY 2024, including $63M-$67M in employee termination costs and $13M in other costs.
May 03, 2024 | 8:21 pm
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Whirlpool expects to incur $75M-$80M in restructuring charges for FY 2024 due to a global workforce reduction, including significant employee termination costs.
The announcement of a global workforce reduction and the associated restructuring charges are likely to create uncertainty among investors regarding Whirlpool's short-term financial health and operational efficiency. The significant costs involved in employee termination and other associated costs could negatively impact the company's profitability in the short term, leading to a potential decrease in stock price.
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