Whirlpool to Lay Off 1,250 Employees As It Closes Plants in Tennessee and Mexico
BENTON HARBOR, Mich. (AP) -- Household appliance maker Whirlpool Corp. said Thursday it will close two of its refrigerator manufacturing plants, affecting 1,250 employees and garnering restructuring charges of between $15 million and $20 million.
The company plans to close its plant in LaVergne, Tenn. -- where it will lay off 500 workers -- and Reynosa, Mexico, where 750 jobs will be lost. Whirlpool has about 73,000 employees, according to the company's Web site.
Production at the Tennessee plant will be moved to the company's Fort Smith, Ark. facility, and production at the Mexican plant will shift to another of the company's sites in Ramos Arizpe, Mexico, the company said.
Whirlpool said the Arkansas plant expects to add about 275 jobs by the end of 2008, and the Ramos Arizpe facility plans to add an estimated 600 employees by midyear.
The affected workers will be provided a severance package, Whirlpool said.
Shares rose $1.38 to $83.63 in afternoon trading.