La-Z-Boy cutting 100 jobs in North Carolina
4/16/2014MONROE, Mich. — La-Z-Boy Inc. is closing two facilities and eliminating 100 jobs in North Carolina as part of a larger restructuring of its business.
The Michigan furniture maker said Wednesday that it will idle two North Wilkesboro facilities and put them up for sale. It will move warehouse and repair functions from those sites to another North Carolina plant, in Hudson.
La-Z-Boy, which is based in Monroe, Mich., is also ending production of some of its bedroom furniture at the Hudson facility in the second quarter as it shifts to importing all of its wood furniture. It plans to exit a business that sells furniture to hotels and sell its youth furniture business.
As a result of these changes, the company expects to take $13 million to $15 million in pre-tax charges, or 15 to 17 cents per share after tax, over the fourth quarter and first half of its next fiscal year.