Herman Miller Makes Temporary Business Adjustments in Response to Impact of COVID-19
Herman Miller, Inc. (MLHR)
Last herman miller, inc. earnings: 3/18 04:05 pm
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Source: PR Newswire
ZEELAND, Mich., April 3, 2020 /PRNewswire/ -- Herman Miller, Inc. (NASDAQ: MLHR), the global designer and furniture manufacturer, announced today a set of actions throughout its global operations in response to the uncertain economic outlook resulting from the COVID-19 pandemic."Since the onset of the COVID-19 pandemic, we've been carefully considering the right things to do for our people and our company to ensure we have both a healthy employee base and business when we emerge from these uncertain times," said Andi Owen, President and CEO of Herman Miller. "Just as we entered this crisis in a strong financial position, we are taking immediate actions to reduce expenses and manage liquidity so we can maintain strong financial footing on the other side of it."Herman Miller is implementing a range of actions aimed at temporarily reducing costs and preserving liquidity. These actions include a 10% reduction in cash compensation for the majority of the company's salaried workforce. Addit
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