HNI Corporation Announces Plant Consolidation

Core Viewpoint - HNI Corporation will exit its Wayland, New York manufacturing facility by 2027, consolidating production into other North American facilities to improve productivity and customer experience [1][2] Company Strategy - The decision to close the Wayland facility is part of HNI's strategic network optimization journey, aimed at enhancing operational efficiency and customer service [2] - The consolidation will not change the product portfolio, and the Gunlocke brand will remain a key part of HNI's offerings [1] Financial Impacts - HNI estimates that the consolidation will result in annual cost savings of approximately $7.5 to $8.0 million once fully implemented [7] - The total estimated charges related to the consolidation are projected to impact pre-tax earnings by approximately $14.9 million in 2026 and 2027, including $5.7 million in non-cash charges [7] - A detailed breakdown of estimated costs includes $11.6 million in 2026 and $3.3 million in 2027 [4][7] Employment Impact - The closure of the Wayland facility will lead to the termination of approximately 135 employees [5]