STANLEYTOWN, VA – Stanley Furniture Co. Inc. announced that it will consolidate its Lexington, NC, manufacturing operation with its Robbinsville, NC, facility.
According to the company, this consolidation is one of several steps announced to improve its cost structure. In addition, the company is eliminating two executive positions and offering a voluntary early retirement incentive for qualified salaried associates.
“Historically low levels of consumer confidence, housing activity and personal disposable income has led to an industry-wide weakness in consumer demand for residential furniture not seen since the early ‘80s,” said Jeffrey Scheffer, president and CEO. “We are making difficult moves from top to bottom and throughout our business to remain profitable now and to be well-positioned for continued success when demand eventually improves.”
The manufacturing consolidation will result in the elimination of approximately 350 jobs at the Lexington, NC, production facility over the next two to three months. The Company plans to retain its warehousing facility with about 20 associates at a separate location in Lexington, NC. The responsibilities of the two executive positions being eliminated will be absorbed by other members of the management team.
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