Whirlpool to cut 5,000 jobs to reduce costs

BENTON HARBOR, Mich. (AP) - Appliance maker Whirlpool Corp. says

it will cut 5,000 jobs in an effort as it faces soft demand and

higher costs for materials.

The jobs to be cut are mostly in North America and Europe.

They include 1,200 salaried positions and the closing of the company's

Fort Smith, Ark., plant.

The company expects the moves will save $400 million by the end

of 2013.

Whirlpool also says its third-quarter net income more than

doubled to $177 million, or $2.27 per share, from $79 million, or

$1.02 per share.

Adjusted earnings of $2.35 per share fell short of

analyst expectations for $2.75 per share.

The company, whose brands include Maytag and KitchenAid, has

been squeezed by higher costs for materials such as steel and

copper.