Bassett Cuts Workforce to Drive Cost Savings & Restructuring Progress

Bassett Furniture Industries, Incorporated (BSET) implemented workforce reductions to better align its cost structure with current business levels. These reductions, achieved through layoffs and retirements, are expected to generate annual savings of approximately $2.5 million.The company has reduced its headcount by 11% in the past year, indicating ongoing efforts to streamline operations. It anticipates recording a$ 500,000 severance charge related to this initiative in the current quarter.BSET Progresses ...