Maytag Will Lay Off 200 In Newton Aug 19, 2005

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Maytag Corporation will lay off 200 workers from its plant in Newton, Iowa, U.S. Several reports quote union spokespeople, saying the layoffs will happen Sept. 2. The union says the layoffs will bring the workforce down to 1,000, compared to as many as 2,600 in recent years.

Maytag is quoted as saying the cutbacks come in response to less demand for the models of laundry appliances made in Newton.

Maytag has been juggling acquisition offers for weeks, from Triton Acquisition Holding, from China appliance producer Qingdao Haier Co., and from Benton Harbor, Michigan, U.S.-based appliance giant Whirlpool Corporation. Haier has fallen out of the picture and Maytag's board switched its backing from the Triton offer to Whirlpool's most recent takeover bid.

Maytag rescheduled a shareholders meeting from August 30 to Sept. 9, stating it needed more time to distribute proxy information.

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