Job eliminations continue at Maytag

Job eliminations continue at Maytag
 
Date October 15, 2004
Section(s) Local News
Brief  
 
By PETER HUSSMANN

Editor

Maytag‘s “One Company” reorganization hit Newton salaried workers again on Thursday as approximately 40 employees at the company’s production facility were notified of their separation with the corporation.

Maytag spokesperson Lynne Dragomier said the job eliminations conducted Thursday were part of Maytag‘s continued integration of Hoover and Maytag Appliances under the Maytag corporate umbrella. In June, Maytag announced that it would eliminate 1,100 salaried positions by year’s end as part of a major restructuring.

A number of individuals were immediately let go on Thursday while others were notified their positions would be eliminated before the end of the year.

“This is consistent with our other actions where we are reducing layers of management and increasing the span of control,” Dragomier said.

Maytag is scheduled to announce third quarter earnings on Thursday. In a conference call with investors following the earnings release, Maytag CEO Ralph Hake is scheduled to give investors an update on the progress of the Hoover and Maytag Appliances integration.

Maytag‘s stock hit another 52-week low on Thursday closing at $16.44. The stock was trading up 4 cents late this morning.

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