Whirlpool

Performance indicators

2020: Global Washing Machine Market Share - 13.9%

Whirlpool's share in the global washing machine market was 13.9% (data from Euromonitor International). Read more here.

History

2024: Laying off thousands of employees

At the end of April 2024, the American manufacturer of household appliances Whirlpool announced a restructuring aimed at reducing costs and increasing the efficiency of business operations. This program will lay off thousands of employees around the world.

Whirlpool has launched a global workforce reduction plan in March 2024. Dismissed employees will receive monetary compensation and other payments due. It was said that the costs associated with this process will amount to approximately $23 million. On April 24, 2024, Whirlpool announced its intention to get rid of about 1000 full-time employees. And about 10 days later, the company reported additional cuts as part of a massive reorganization program.

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Whirlpool

Whirlpool has begun the process of notifying employees of a plan to further reduce staff worldwide, the appliance maker said in a statement.

The total costs associated with a decrease in the number of personnel are estimated at $52- $57 million: the bulk of this amount will be in the second quarter of 2024. The company says that the measures being taken will help simplify the organizational structure and, ultimately, reduce costs. The total costs of reorganization in 2024 may range from $75 million to $80 million.

As of the end of 2023, approximately 59 thousand people worked in Whirlpool divisions around the world. The company is forced to lay off employees amid a significant drop in demand for household appliances, including in the North American market. This is due to the current macroeconomic situation and high inflation. In addition, as noted, Whirlpool canceled some promotions and reduced the size of discounts.^[1]

2022

Whirlpool bought InSinkErator from Emerson for $3 billion

On August 8, 2022, Whirlpool said it was buying InSinkErator, a waste disposal equipment and hot water dispensers company, from Emerson Electric for $3 billion. The deal is expected to close in the fourth quarter of 2022. Read more here.

Sale of Russian business for 220 million euros

At the end of June 2022, the sale of the Russian business Whirlpool was announced. Indesit International and Virpool Rus are bought by the Turkish holding Arcelik, which owns the Beko household appliance brand. Information about the deal appeared on KAP, a Turkish public disclosure website. Read more here.

2018: Official Service Center in Russia

On July 11, 2018, Whirlpool Corporation, one of the world's largest manufacturers of household appliances, announced the opening of the first official service center in Moscow. A full range of repair, installation and maintenance services are available to consumers for Whirlpool, Hotpoint, Indesit and KitchenAid brands.

Service center engineers use only original spare parts and components, the warranty for all work performed is 6 months. Specialists are regularly trained at Whirlpool factories and offer qualified service.

In the showroom of the center, you can purchase large and small household appliances of the Whirlpool, Hotpoint, Indesit and KitchenAid brands directly from the manufacturer. Consultants will assist in choosing a model and give personal recommendations on the operation of the device. At the same time, services for delivery, installation and annual service will be provided free of charge.

Buyers will also be able to purchase advanced service certificates, which allow you to call a specialist at home for free to troubleshoot problems. The service is carried out in Moscow within the Moscow Ring Road, as well as in several cities of the Moscow Region.

The official center has access to the purchase of professional cleaning products of the Wpro brand. Specialists will help you choose the necessary tool and tell you how to properly take care of household appliances. Wpro cleaning products are designed with modern appliances in mind and are suitable for any brand.

2014: Whirlpool takes over Italy's Indesit

In July 2014, Whirlpool Corp., announced the purchase of a controlling stake in its European rival Indesit. For each security, she will pay 11 euros, the total amount will be 758 million euros.

The Whirlpool report notes that as part of transactions with members of the Merloni family and the family asset management company Fineldo, it will buy out 60.4% of Indesit's shares. Minus Treasury shares on the balance sheet of Indesit itself, Whirlpool's stake will be 66.8% of the Italian manufacturer's voting shares.

The transaction requires antitrust approval and is expected to close by the end of 2014. At the conclusion of the transaction, Whirlpool is obliged to make an offer to buy back shares from the rest of Indesit's co-owners at the same price at which it will buy back shares from Merloni.

"We are confident that this transaction contributes to our sustainable growth in the highly competitive market for household appliances in Europe," explained Whirlpool CEO Jeff Fettig^[2].

1975

Indesit was founded in 1975. Italian businessman Vittorio Merloni and was originally called Merloni Elettrodomestici.

1959

Whirlpool robot vacuum cleaner at the 1959 American National Exhibition in Moscow.

Notes