Furniture giant HNI Corp. has joined a cost-cutting list that also includes other mega companies MillerKnoll and Steelcase when it announced this week several cost cutting measures to weather current economic storms.

Company set's 2030 Sustainability Goals. The new goals leverage the progress and legacies of Herman Miller, Knoll, and their collective of global brands, and include reducing carbon footprint by 50%, eliminating the use of single-use plastics, and using 50% or more recycled content globally.

Herman Miller was named one of the top 10 companies that have begun incorporating social impact initiatives into its business strategy.

The company also is also sitting on a backlog of orders worth $1 billion.

A new contract furniture behemoth has emerged.

Announced April 19, the transaction is expected to close by the end of the third quarter of calendar year 2021, subject to customary approval of closing conditions. The acquisition combines two of the top 5 contract furniture makers in North America.