FBI to eliminate 330 jobs
By Furniture Today Staff -- Furniture Today, April 30, 2007
St. Louis — Furniture Brand International said Friday it was eliminating about 330 positions and closing three plants in North Carolina in a move the company said will generate annual savings of about $13 million.
The job cuts involve 80 executive and administrative employees across the company, 150 workers in the North Carolina factories, and about 100 employees at other manufacturing operations, according to a news release.
Thomasville Furniture Inds. will consolidate case goods operations from its 325,000-square-foot Plant C case goods facility in Thomasville, N.C. into its Lenoir, N.C. facility, cutting about 100 jobs.
It also will consolidate two upholstery plants in Troutman, N.C., into its upholstery operation in Hickory, N.C. The Troutman plants cover 239,000 square feet and employ about 200. The closings are set for July and August. Half the positions will transfer to other Thomasville manufacturing facilities.
The company said it expects to take charges associated with the moves, net of tax benefit, of about $2.5 million or 5 cents per share, spread evenly over the second and third quarters.
