VOL. 123 | NO. 220 | Monday, November 10, 2008
Furniture Maker La-Z-Boy Laying Off 240 in Tenn.
DAYTON, Tenn. (AP) - Furniture maker La-Z-Boy Inc. says it's laying off 240 workers at its plant in Dayton, Tenn.
A news release from company President and CEO Kurt Darrow in Monroe, Mich., says La-Z-Boy is aggressively reducing its overall operating expenses and inventories.
The Chattanooga News Free Press reports the plant is Rhea County's largest employer, with about 1,900 workers.
Darrow says the furniture industry is in an unprecedented downward spiral as consumers, spooked by the economic downturn, postpone discretionary purchases.
Information from: Chattanooga Times Free Press, http://www.timesfreepress.com
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