Woodworking Industry News

275 job cuts at Knoll blamed on COVID-19

EAST GREENVILLE, Penn. - Furniture giant Knoll Inc. said it will cut 275 jobs in order to further reduce operating expenses as it deals with "economic challenges and uncertainty resulting from the COVID-19 pandemic and its impact on the company's business." The location of the job cuts was not disclosed but should be complete by the end of the third quarter. The move is expected to result in annualized savings of approximately $24 million. The announcement was included in Knoll's May 20 SEC filings.