Steelcase announces workforce reductions and pay restoration

Steelcase announces workforce reductions and pay restoration.steelcase inc - 65 salaried employees have volunteered for part-time roles or temporary layoffs for periods ranging from three to six months.steelcase inc - expect to report larger revenue declines in august and q3, driven by americas.steelcase inc - actions include early retirements, voluntary separations and involuntary separations of approximately 300 salaried employees.steelcase inc - estimates it will incur restructuring costs totaling about $30 million during its q2 and q3 in connection with workforce reductions..steelcase inc - restoring most of its salaried workers to their full base pay.steelcase inc - reinstatement of full base pay for co's ceo & other executive officers, and co's board of directors.
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