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Some Steelcase Staff in Tustin to Lose Jobs; Earnings May Dip 11%

February 13, 2001|Bloomberg News

Steelcase Inc., the largest U.S office furniture maker, said Monday it is cutting as many as 1,200 jobs, including those of about 140 hourly workers and "a handful" of salaried employees in Tustin.

The company will fire about 5% of its work force--700 temporary employees, 215 hourly workers and 200 to 300 salaried staff, spokesman Allan Smith said.

Job cuts also will occur in Athens, Ala.; Colorado Springs, Colo.; Solon, Ohio; and at the company's headquarters in Grand Rapids, Mich. Steelcase will close factories in Colorado Springs and Solon, leaving it with about 21,000 workers at 33 plants.

The Tustin site employs about 850 workers, Smith said.

The company also said its earnings will fall as much as 11% below forecasts in fiscal 2001 because of the slowing U.S. economy.

Companies are cutting spending for office furniture and other equipment as the economy slows. December sales of office furniture fell 3% to $1.05 billion, said Raymond James analyst Budd Bugatch, citing an industry group.

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