Steelcase to Cut as Many as 1,110 Jobs
Associated Press
Steelcase Inc. said it plans to cut 900 to 1,110 jobs, about 5% of its work force, because of a sluggish economy and a weak furniture market.
The nation’s No. 1 office furniture maker also said its second-quarter earnings will be below expectations.
In the next 90 days, the Grand Rapids, Mich.-based company will lay off 600 to 700 hourly employees and eliminate 300 to 400 salaried positions in the company’s North American operations.
On the NYSE, Steelcase shares fell 18 cents to $13.80.
