Whirlpool axes 5,000 workers

Whirlpool, the world's largest maker of household appliances, is responding to "recessionary" demand in major developed markets by cutting more than 5,000 jobs, about a tenth of its workforce in North America and Europe.

The manufacturer of Maytag appliances and Kitchen Aid mixers slashed its profit forecast and reported weak quarterly results after being hurt by high material costs and by shoppers cutting back on big-ticket buys such as washing machines.