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Article: Maytag feeling foreign pressure to cut costs; Shareholders are told that the appliance maker has to compete with cheap imports
- Article from:
- Telegraph - Herald (Dubuque)
- Article date:
- May 14, 2004
- Author:
CopyrightCopyright 2004 Telegraph - Herald (Dubuque). Provided by ProQuest LLC. (Hide copyright information)
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NEWTON, Iowa (AP) - Maytag Corp. workers can expect increased
pressure to cut costs to compete with a flood of cheap imported
appliances, Chairman Ralph Hake told shareholders at their annual
meeting Thursday.
"We must continue to change how we do business, especially in the
area of cost," Hake said.
Hake took numerous questions from shareholders, mostly members of
the International Association of Machinists and Aerospace Workers.
The union represents workers at Maytag's Amana refrigerator plant,
as well as those in Galesburg, Ill., where Maytag will close its
refrigerator plant in September.
Union representatives challenged the company's decision to move
many of those manufacturing jobs to ...