NEW YORK — Appliance maker Whirlpool plans to cut 5,000 jobs, about 10 percent of its workforce in North America and Europe, as it faces soft demand and higher costs for materials.

The world’s biggest appliance maker also today cut its 2011 earnings outlook drastically and reported third-quarter results that missed expectations, hurt by higher costs and a slowdown in emerging markets.

The company, whose brands include Maytag and KitchenAid, has been squeezed by soft demand since the recession and rising costs for materials such as steel and copper. Whirlpool has raised prices to combat higher costs, but demand for big-ticket items remains tight.

Steep costs and the dour global economy are affecting the entire appliance industry. Swedish appliance maker Electrolux said Wednesday that its third-quarter net income fell 39 percent and cut its forecast for demand in North American and Europe for the year.