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VOL. 123 | NO. 220 | Monday, November 10, 2008

Furniture Maker La-Z-Boy Laying Off 240 in Tenn.

AP

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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.

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Information from: Chattanooga Times Free Press, http://www.timesfreepress.com

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 81 217 5,290
MORTGAGES 94 276 6,985
FORECLOSURE NOTICES 22 72 1,628
BUILDING PERMITS 384 712 12,691
BANKRUPTCIES 66 241 5,541
BUSINESS LICENSES 27 85 2,146
UTILITY CONNECTIONS 52 234 7,292
MARRIAGE LICENSES 10 53 1,511

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