Whirlpool’s layoffs, restructuring costs pegged at up to $280 million

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Whirlpool Corp.’s planned job cuts will result in about $95 million in severance and other employee-related costs, the company said in a filing Tuesday. Restructuring charges for fiscal 2020 are now seen between $260 million and $280 million, which includes a previous expectation of costs around $100 million, expenses with the job cuts, “and anticipated additional restructuring actions in 2020,” the company said in the filing. The company announced its plan to cut jobs on Friday as part of its “continued cost reduction efforts,” it said. The workforce-reduction plan includes voluntary retirement and layoffs, and it is expected to be completed this year, the appliances maker said. Shares of Whirlpool were flat in the extended session Tuesday after ending the regular trading day up 1.9%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.