Office furniture giant HNI cuts costs as it ‘prepares for difficult time’

MUSCATINE, Iowa – HNI Corp., one of the largest office furniture manufacturers in the world, announced it will cut costs by $30 million as business conditions continue to worsen.

Despite recording a $19.2 million increase in income for the third quarter – much of which being due to the sale of its Chinese furniture business for $51 million – the company expects revenue to decline for the coming quarter by a percentage in the low-teens.

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