Maytag Corporation was a $4.7 billion home and commercial appliance company, headquartered in Newton, Iowa from 1893-2006. With approximately 18,000 employees worldwide, it made and sold appliances.
The Whirlpool Corp. completed its acquisition of Maytag on April 1, 2006. In May 2006, Whirlpool announced plans to close the former Maytag headquarters office in Newton, as well as laundry manufacturing plants in Newton, Iowa, Herrin, Illinois and Searcy, Arkansas by 2007. Following the Maytag closure, all administration will be in Whirlpool's headquarters in Benton Harbor, Michigan. The Maytag name will still be used on rebranded Whirlpool appliances, however most Maytag employees will be terminated, as some were offered jobs in Benton Harbor. The board of directors of Maytag and CEO (a former Whirlpool executive), all received five years severance pay.
