December 11, 2008

Furniture Brands cuts workforce by 15 percent

According to Reuters: “Furniture Brands International Inc said on Thursday it would cut its workforce by 15 percent, or about 1,500 jobs, to cut costs as it faces softer sales in the recession.”

“St. Louis-based Furniture Brands, whose brands include Broyhill, Thomasville and Lane, has been trying to revamp its business by consolidating its U.S. plants and exiting store leases.

U.S. furniture companies have been reeling from a lingering sales decline amid the collapse of the housing market, and the credit crunch has only exacerbated problems.”

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