Bassett to close Ga. plant, cut 180 jobs

[UpInArms]

http://www.miami.com/mld/miamiherald/business/national/9319816.htm?1c

BASSETT, Va. - Bassett Furniture Industries Inc. plans to close its Macon, Ga., wood manufacturing facility, leading to about 180 layoffs.

The Bassett-based furniture maker Wednesday said the move would lead to a fiscal third-quarter charge of $1 million to $1.4 million pretax, or 6 cents to 9 cents a share after tax.

However, savings from the closing should eclipse the amount of the charge in 12 to 18 months, Bassett said.

Bassett decided to close the plant, which makes home entertainment and office furniture, after the popularity of flat screen TVs led to changes in the way these products are designed.

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[vetwife]

1. Bell south striking here and massive layoffs at another big company

here in Ga.

[mbperrin]

2. There goes that * job machine again!

There they go!!!!!!!!!!!

[Ilsa]

3. This is so sad.

This company and others like it have worked together to lobby for fair trade. They said they are getting hammered by cheap furniture from China, etc, and they can't compete.