Furniture Maker Cutting Costs

By: Associated Press
By: Associated Press

Office furniture maker Herman Miller Inc. is cutting costs in response to reduced demand that it blames on the slumping economy.

The Zeeland-based company says it will temporarily reduce hours and pay by 10 percent for most of its salaried U.S. employees by closing most of its facilities every other Friday beginning March 13.

Herman Miller also says in a written statement it will temporarily suspend its matching contribution to employee 401(k) plans beginning Monday.

The company says it plans to resume normal hours and reinstate the matching 401(k) contributions when business conditions permit.

Herman Miller says other companies are making similar moves to save money.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Chris Location: Mason on Mar 9, 2009 at 09:25 PM
    The heartless companies will be the ones to fall the fastest and hardest.
  • by Mary Location: holt on Mar 7, 2009 at 07:34 AM
    Sounds like some one is looking to cut costs and still keep employees.This is good.To bad other companies haven't done so.Keep employees.Most would take a pay cut before having no job at all.Ask the thousands that have lost jobs and everythings they worked hard for.Years for some faithful workers to just get booted out of a company.Times are changing real fast.It's not that people don't want to buy.It's they can't afford to.Some profit is better than no profit and no bussiness.When one see $$ signs and blows money we now see what is ment by a fool and his money soon parts.That turns into bad bussiness.Bad bussiness and greedy people loose real fast in the end.
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