HNI Corporation Provides Update Related to COVID-19 Coronavirus Pandemic

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Monday, 06 April, 2020

MUSCATINE, Iowa–(BUSINESS WIRE)–HNI Corporation (NYSE: HNI; “the Corporation”) is providing an update related to the ongoing COVID-19 pandemic crisis.

CEO Comment
“First and foremost, our focus during this crisis is on the well-being of our members. To protect our teams, we have implemented workplace measures consistent with guidelines from the Centers for Disease Control and Prevention. While the situation is dynamic, at this point we continue to operate at our primary manufacturing locations,” stated Jeff Lorenger, HNI Corporation, Chairman, President, and Chief Executive Officer. “We entered this crisis in a position of strength. We have low debt levels and possess liquidity equivalent to more than two years of free cash flow. While the ultimate impact of the outbreak is uncertain, we are confident in our ability to effectively weather this crisis.”

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HNI Suspends 2020 Outlook

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Monday, 6 April, 2020

(RTTNews) – HNI Corp. (HNI) said it has suspended its fiscal 2020 sales and earnings forecast due to the uncertainty caused by the coronavirus pandemic.

At the end of the first quarter 2020, the company had $233 million in total debt.

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Herman Miller implements cost-cutting measures

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Friday, 03 April, 2020

ZEELAND, Mich. — A major office furniture maker is taking “a set of actions” to reduce its costs.

The moves by Herman Miller are in response to the “uncertain economic outlook” amid the coronavirus pandemic, according to the company today.

Herman Miller  said it is reducing “cash compensation” for the majority of its salaried workforce by 10%.

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Herman Miller Makes Temporary Business Adjustments in Response to Impact of COVID-19

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Friday, 03 April, 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.”

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Herman Miller production to include medical protective equipment

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Wednesday, 1 April, 2020

HOLLAND — Herman Miller is responding to the shelter-in-place and similar government orders at its headquarters in Zeeland and various locations around the world.

Gov. Gretchen Whitmer’s stay-home executive order requires non-essential businesses to close for three weeks until April 13.

Starting Monday, March 30, Herman Miller announced in a press release it anticipated bringing back as much as 30 percent of its manufacturing employees to help support customers who are “actively engaged in the COVID-10 response.”

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