La-Z-Boy Inc. said Thursday it is reducing its global workforce by about 10% and closing a Mississippi upholstery factory amid business challenges from the COVID-19 outbreak.
The move to cut 850 jobs across manufacturing, retail and corporate locations is to "right-size" the business, Kurt Darrow, La-Z-Boy chairman and CEO, said in a statement, as the Monroe-based furniture manufacturer forecasts the effects of high unemployment levels and uncertainty around economic recovery.
The recliner and 10% of upholstery production done at its Newton, Mississippi, facility will go to others in Tennessee, Missouri and Arkansas. The plant employs 300 people. The company expects to incur up to $7 million in pre-tax charges related to the actions.
bnoble@detroitnews.com
Twitter: @BreanaCNoble
"Factory" - Google News
June 05, 2020 at 05:25AM
https://ift.tt/3cGnQKI
La-Z-Boy to cut 850 jobs, close Mississippi factory - The Detroit News
"Factory" - Google News
https://ift.tt/2TEEPHn
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "La-Z-Boy to cut 850 jobs, close Mississippi factory - The Detroit News"
Post a Comment