Hooker lays off 100, resumes 40-hour weeks
By Furniture Today Staff -- Furniture Today, September 9, 2001
MARTINSVILLE, Va. — Case goods and occasional manufacturer and importer Hooker Furniture has laid off about 100 employees here, a move that enables the company to return the rest of its workers to full, 40-hour work weeks.
Hooker had reduced work weeks at its plants in North Carolina and Virginia to 35 hours early this year in an effort to avoid job cuts. The layoffs represent about 5% of the company's workforce.
"We regret having to reduce our workforce," said Paul Toms Jr., chairman and chief executive officer. "However, we believe the profitability of the company and the long-term livelihood of our employee-owners would be compromised if we continued to work on reduced schedules."
Hooker has cut its workforce by about 10% in the past 12 months to about 1,800. Until now, reductions were achieved through attrition, early retirements and a hiring freeze in Martinsville.
Hooker will give laid-off employees severance pay based on years of service, a full year-end bonus and 30 days of health insurance coverage, extendable after that through COBRA. The company also is exploring the possibility of extended unemployment benefits under the Trade Act and the NAFTA Transitional Adjustment Assistance Program.
Toms anticipated no further layoffs under current conditions.
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