Brief: Steelcase Inc On May 3, Board Approved Plans For Workforce Reductions In France

Steelcase

04/05/2023 13:12

May 4 (Reuters) - Steelcase Inc  SCS.N :
    * STEELCASE INC -  ON MAY 3, BOARD APPROVED PLANS FOR
WORKFORCE
REDUCTIONS IN FRANCE
    * STEELCASE INC -  WORKFORCE REDUCTIONS IN FRANCE IN
RESPONSE TO
PERSISTING INFLATIONARY PRESSURES AND DECREASING PLANT
UTILIZATION IN EMEA
    * STEELCASE INC - PLANS INVOLVE REDUCTION OF APPROXIMATELY
40 TO
50 SALARIED ROLES
    * STEELCASE INC -  EXPECTS TO INCUR APPROXIMATELY $10
MILLION TO
$13 MILLION IN PRE-TAX RESTRUCTURING CHARGES IN CONNECTION WITH
WORKFORCE REDUCTIONS IN FRANCE
    * STEELCASE INC - STARTED PROCEDURES WITH FRENCH CENTRAL
WORKS
COUNCIL, TO WORK CLOSELY WITH FRENCH LABOR ADMINISTRATION FOR
APPROVAL FOR WORKFORCE CUT
    * STEELCASE INC - ACTIONS ARE EXPECTED TO BE COMPLETED BY
END OF
COMPANY'S FISCAL YEAR 2024
    * STEELCASE INC - MOST OF DEPARTURES EXPECTED TO BE
COMPLETED BY
END OF Q3 OF COMPANY'S FISCAL YEAR 2024
    * STEELCASE INC - ANTICIPATES ANNUALIZED SAVINGS FROM THESE
ACTIONS WILL BE APPROXIMATELY $4 MILLION TO $5 MILLION
    * STEELCASE INC - ANNOUNCED A SERIES OF ADDITIONAL
RESTRUCTURING
ACTIONS
    * STEELCASE INC - ACTIONS INVOLVE INVOLUNTARY TERMINATIONS
OF
APPROXIMATELY 80 TO 85 HOURLY EMPLOYEES AND 150 TO 155 SALARIED
EMPLOYEES IN ASIA PACIFIC
    * STEELCASE INC -  ACTIONS INVOLVE INVOLUNTARY TERMINATIONS
OF
ABOUT 30 EMPLOYEES IN AMERICAS
    * STEELCASE INC -  TERMINATIONS OF ABOUT 30 EMPLOYEES IN
AMERICAS
IN CONNECTION WITH CLOSING OF COMPANY'S REGIONAL DISTRIBUTION
CENTER IN ATLANTA

Source text for Eikon:  ID: 
Further company coverage:  SCS.N