ZEELAND, MI – Herman Miller Inc. announced a series of strategic initiatives designed to improve business performance and accelerate growth.
Brian Walker, CEO, said, “We’ve made great strides over the past several months in refining Herman Miller's structure, sharpening our focus and reallocating resources toward high-growth areas. We are confident that these actions – along with several great new designs in the pipeline – position our core North American furniture business to be even stronger and more profitable going forward.
"These actions also enable us to increase our investment of capital resources and people into our high-return growth initiatives,” Walker said. “This includes the industry-changing technology we've introduced through our Convia subsidiary. We intend to leverage this innovation across our core business to offer a new level of facility performance and deliver uniquely programmable interior environments to both new and existing customers. We also are continuing to actively pursue alliances and acquisitions that can enhance our future growth.”
During the quarter, the company eliminated approximately 150 full-time positions, the majority of which were in Michigan. The company estimated these employment reductions, coupled with other actions to be implemented over the next six to nine months, will result in annual cost savings of approximately $25 million to $30 million.
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