/Furniture maker cuts pay of all employees to help cash flow

Furniture maker cuts pay of all employees to help cash flow

LAMAR, Mo. (AP) – One of southwest Missouri’s largest employers will reduce the pay of all

employees by 6.6-percent in March for an indefinite period.

O’Sullivan Industries makes ready-to-assemble furniture sold by large retail chains nationwide.

Yesterday, it announced the decision to its 800 employees, saying it needs to improve cash flow.

The company says production workers and management will be affected.

Company contributions to employee savings and profit-sharing plans will also be suspended effective March fifth.

(Copyright 2014 by The Associated Press. All Rights Reserved.)