GRAND RAPIDS, Mich. (AP) -- Office furniture maker Steelcase Inc. said Wednesday it is cutting 750 jobs as it shutters three manufacturing plants in North America.
The company is closing its facilities in Markham, Ontario in Canada; Grand Prairie, Texas; and the Kentwood East plant in Kentwood, Mich., company spokeswoman Jeanine Holquist said. Steelcase said the move will save the company about $35 million a year.
The production at the closed plants will be moved to other locations in North America.
The company said the costs related to the plant closings will be about $45 million and will reduce its 2011 fiscal fourth-quarter net income by 4 cents a share. It estimates per-share net income between 7 cents and 11 cents, down from its previous expectation of 11 cents to 15 cents.
