Bassett Furniture Industries Inc

NASDAQ:BSETUnited States

Nov 20, 2024

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• Bassett Furniture Industries Reduces Workforce, from 10:03AM ET on Wednesday Nov 20, 2024 by MT Newswires

  10:03AM ET on Wednesday Nov 20, 2024 by MT Newswires
  Companies Mentioned: BSET
  10:03 AM EST, 11/20/2024 (MT Newswires) -- Bassett Furniture Industries (BSET) announced Wednesday workforce cuts through layoffs and retirements to streamline operations and align its cost structure with the current rate of its business. The compan...

• DJ Bassett Furniture Trims Workforce Further as Tight Spending, Housing Market Compound Challenges, from 9:28AM ET on Wednesday Nov 20, 2024 by Dow Jones

  9:28AM ET on Wednesday Nov 20, 2024 by Dow Jones
  Companies Mentioned: BSET
  
  By Denny Jacob
  
  Bassett Furniture Industries is trimming its workforce further in an effort to get its cost structure in line with its rate of business, reflecting challenges in the housing market and more judicious spending by consumers.
  

• Bassett Announces Additional Cost Structure Reductions and Updates Progress on Restructuring Plan, from 9:00AM ET on Wednesday Nov 20, 2024 by Dow Jones

  9:00AM ET on Wednesday Nov 20, 2024 by Dow Jones
  Companies Mentioned: BSET
  
  Bassett Announces Additional Cost Structure Reductions and Updates Progress on Restructuring Plan
  
  BASSETT, Va., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today certain work force reductions designed to both streamline operations and better match the Company's cost structure to the current rate of business. Through a combination of layoffs and retirements throughout the organization, this workforce reduction will result in approximately $2.5 million in annual savings. Including this action, Bassett has reduced its headcount by 11% over the past year. The Company expects to record an associated $500,000 severance charge in the current quarter.