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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 This material may not be published, broadcast, rewritten or redistributed.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 67 156 11,921
MORTGAGES 77 227 15,577
FORECLOSURE NOTICES 0 42 3,065
BUILDING PERMITS 222 606 28,832
BANKRUPTCIES 82 210 11,517
BUSINESS LICENSES 23 73 4,228
UTILITY CONNECTIONS 87 339 17,522
MARRIAGE LICENSES 18 61 3,625

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