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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 This material may not be published, broadcast, rewritten or redistributed.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 74 312 10,190
MORTGAGES 103 400 13,275
FORECLOSURE NOTICES 16 76 2,614
BUILDING PERMITS 221 783 24,307
BANKRUPTCIES 72 299 9,832
BUSINESS LICENSES 39 110 3,713
UTILITY CONNECTIONS 129 519 14,482
MARRIAGE LICENSES 13 81 3,144

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