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Steelcase cuts more than 300 jobs in the Americas

28.09.2020 − 

Steelcase is responding to the ongoing low level of demand in the Americas region by cutting jobs. Around 300 employees, or approximately 8% of the total salaried workforce in the Americas and corporate sectors, have to leave the company. In addition, 160 employees paid on an hourly basis are to be given early retirement. A further 65 salaried employees will switch voluntarily to part-time work, or have taken leave for a period of three to six months.

The pay cuts introduced worldwide in connection with the corona crisis in March and April are now to be gradually re-adjusted. In the USA the usual pay levels had already been reinstated by August 31. The group expects to incur costs of US$20m per quarter in connection with the reinstatement of normal levels of remuneration in the USA. The job cuts, on the other hand, will result in cost savings of around US$10m. Steelcase estimates that restructuring costs amounting to US$30m will be incurred in the second and third quarters of the 2020/2021 financial year (28 Feb.) as a result of workforce reductions.

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