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Maytag to Cut 1,100 Workers
Nov 22, 2004
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Maytag say they will freeze pay of salaried workers and are asking for salaried workers to quit their jobs in exchange for a separation package.

Spokeswoman Lynn Dragomier says the pay freeze, which includes top executives, is necessary to reduce costs, in large part because of the need to help offset rising prices of steel and other materials. She says that as part of the plan, Maytag is reducing its companywide salaried work force by 1,100 positions to 4,700.

She says the request for voluntary resignations could push the final number even lower. She says the goal is overall reductions in costs, rather than a specific number of jobs.

The voluntary reductions are part of the company's "One Company" restructuring announced in June and designed to put its appliance unit, its Hoover vacuum cleaner business and the Newton corporate headquarters under one umbrella. (AP)

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