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At a Glance

Uppers

Extensive training for new hires

Lots of opportunity to advance to more lucrative positions

Solid pay and benefits package

Downers

The company's size sometimes lead to bureaucratic hassles

It can be easy for employees to get lost in the shuffle and a challenge to receive recognition for good work

Recent layoffs due to the weak economy

The Bottom Line

Whirlpool Corporation offers plenty of opportunities for job seekers and provides employees with good training programs and benefits.

About Whirlpool Corporation

With brand names recognized by just about anyone who has ever separated dark colors from light, Whirlpool is the world's top home appliance maker. It sells around 67 million laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, and compressors each year under a bevy of brand names, including Whirlpool, Amana, KitchenAid, Maytag, Jenn-Air, and Roper. The company markets and distributes these major home appliances in North America, Latin America, EMEA (Europe, the Middle East, and Africa), and Asia. It has manufacturing operations in more than a dozen countries. Major customer include retailer Lowe's.

Operations

Sales of laundry appliances and refrigerators together account for 60% of Whirlpool's total sales. Cooking appliances represent nearly a quarter of sales, dishwashers generate nearly 10% of sales, and compressors, spare parts, and warranties account for the remainder.

The company divides its business into four geographical regions: North America, EMEA (Europe, Middle East, and Africa), Latin America, and Asia. Each region shows variation in terms of its premier brands. Key North American brands include Whirlpool, Maytag, and JennAir; European brands include Whirlpool, Hotpoint, and KIC; Latin America among its brands are Consul, Brastemp, and Acros, and in Asia's brands include Indesit, Bauknecht, Sanyo, Diqua, and Royalstar.

Geographic Reach

Michigan-based Whirlpool's manufacturing footprint spans some 35 sites in more than a dozen of countries and produces appliances for a global customer base.

North America accounts for about 55% of total sales, EMEA a fifth; Latin America 15%; and the Asia-Pacific region nearly 10%.

Sales and Marketing

Whirlpool is a major supplier of laundry, refrigeration, cooking and dishwasher home appliances to Lowe's, a North American retailer. It represents nearly 15% of sales.

Whirlpool spent approximately $335 million, $343 million and $330 million in advertising for FY 2019, 2018 and 2017, respectively.

Financial Performance

A long period of strong growth seems to have come to an end, with Whirlpool's sales mostly flat for the last four years, hanging around the $21 billion mark. Profits have declined alarmingly, but have gained remarkably in 2019.

In 2019, the company's sales fell 3% to $20.4 billion primarily driven by the divestiture of the Embraco compressor business, unfavorable foreign currency and unit volume declines, partially offset by the favorable impact of product price/mix.

Whirlpool reported a net earnings of $1.2 billion in 2019. The net earnings were favorably impacted by the gain on the sale of its Embraco compressor business of approximately $511 million, partially offset by product warranty and liability expense of approximately $131 million and losses associated with strategic actions executed in EMEA of approximately $74 million.

Whirlpool's cash on hand grew $414 million during 2019, ending the year at $2 billion. The company's operations generated $1.2 billion, with investing activities adding another $636 million. Financing activities used $1.4 billion for long-term debt repayments and dividends payment.

Strategy

Whirlpool Corporation is committed to delivering significant, long-term value to both its consumers and shareholders. For consumers, it delivers value through innovative, high-quality products that solve everyday problems. For shareholders, it seeks to deliver differentiated value through its four strategic pillars: global leading scale, best brand portfolio, proven track record of innovation and best cost position.

Global leading scale includes a balance of developed countries and emerging markets. As demand recovers in key emerging markets, it believes it's well positioned to benefit and convert this demand into profitable growth.

Best Brand Portfolio aims to position these desirable brands across many consumer segments. Whirlpool's sales are led by its global brands, including Whirlpool and KitchenAid. Whirlpool is trusted throughout the world as a brand that delivers innovative care daily. Its KitchenAid brand brings a combination of innovation and design that inspires and fuels the passion of chefs, bakers and kitchen enthusiasts worldwide. These two brands are the backbone of the company's strategy to offer differentiated products that provide exceptional performance and desirable features while remaining affordable to consumers.

Proven Track Record of Innovation made the company a byword in consumer industry. Whirlpool manufactures and markets a full line of major home appliances and related products. Its principal products are laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers and other small domestic appliances. While it is proud of that legacy, it is also committed to innovating for a new generation of consumers. Its world-class innovation pipeline has accelerated over the last few years, driven by consistent innovation funding and a passionate culture of employees focused on bringing new technologies to market. This year, Whirlpool launched more than 100 new products throughout the world, and is committed to further accelerating its pace of innovation.

Best Cost Position have benefit on everything the company do based on scale, and is committed to a relentless focus on cost efficiency. Its global scale enables its local-for-local production model. It is focused on producing as efficiently as possible and at scale throughout the world.

The company's overall investment strategy is to achieve an appropriate mix of investments for long-term growth and for near-term benefit payments with a wide diversification of asset types, fund strategies, and investment fund managers. The target allocation for its plans is approximately 24% in equity, 74% in fixed income securities and 2% in alternative investments, with exceptions for foreign pension plans. The fixed income securities duration is intended to match that of its United States pension liabilities.

Whirlpool Corporation

2000 N M 63
Benton Harbor, MI 49022-2692
Phone: 1 (269) 923-5000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: WHR
Stock Exchange: , NYSE
CEO and Director: Marc R. Bitzer
Chairman: Jeff M. Fettig
EVP and CFO: James W. Peters
Employees (This Location): 2,200
Employees (All Locations): 77,000

Major Office Locations

Benton Harbor, MI

Other Locations

Moulton, AL
Phoenix, AZ
Los Angeles, CA
Aurora, CO
Washington, DC
Fort Myers, FL
Longwood, FL
Orlando, FL
Pompano Beach, FL
Atlanta, GA
Mcdonough, GA
Smyrna, GA
Amana, IA
Newton, IA
West Des Moines, IA
Chicago, IL
Des Plaines, IL
Montgomery, IL
Port Barrington, IL
Evansville, IN
La Porte, IN
Plainfield, IN
Somerset, KY
Mandeville, LA
Metairie, LA
Baldwin, MI
Benton Harbor, MI
Livonia, MI
Saint Joseph, MI
New Ulm, MN
Earth City, MO
Fargo, ND
Omaha, NE
Asbury Park, NJ
Matawan, NJ
Middletown, NJ
Clyde, OH
Findlay, OH
Greenville, OH
Lockbourne, OH
Marion, OH
Ottawa, OH
Tulsa, OK
Chattanooga, TN
Cleveland, TN
Jackson, TN
Knoxville, TN
Odessa, TX
Winchester, VA
Spanaway, WA
Chippewa Falls, WI
Fabriano, Italy
None, Italy
Calgary, Canada
Edmonton, Canada
Milton, Canada
Mississauga, Canada
Nepean, Canada
Vancouver, Canada
Victoria, Canada
Kalamaria, Greece
Ramos Arizpe, Mexico
Bergen, Norway
Oslo, Norway
Sandnes, Norway
Trondheim, Norway