Benton Harbor, Michigan -- International domestic appliance manufacturer, Whirlpool has announced plans to layoff 480 people at its Indesit subsidiary at two locations in Italy: Fabriano, Varese, Cassinetta and Milan, Italy.
The jobs are predominantly in administrative functions, Whirlpool said. The firm adds that many of the posts were regarded as redundant by Indesit before Whirlpool brought the company in December 2014. Whirlpool estimates that it will incur Euro 84m ($91m) in employee costs. Total costs of the restructuring are likely to be less than Euro 300m, Whirlpool said.
Currency conversion: XE.com 20 May 2015: 1 EUR = 1.10834 USD