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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