Assembly Lines: Maytag to Cut Workforce, Lowers Forecast
DES MOINES, IA-Maytag Corp. is cutting its salaried workforce by 20 percent, or 1,100 jobs, as part of a restructuring. The company also lowered its earnings expectations for the year.
The layoffs will come mostly at Hoover's factory in North Canton, OH, but some cuts will also be made at company headquarters in Newton, IA. The 1,100-job reduction will bring Maytag's total workforce to 19,500. The company is citing lower sales and higher materials costs as the reasons for this move.