Steelcase
Added May 13, 2020
Steelcase is the largest office furniture manufacturer in the world, with revenues pushing $4B and around 12,000 employees.
Company Behavior Summary
- During the COVID-19 crisis, Steelcase was forced to close plants in four states, laying off workers. On the same day, it announced an $8M stock dividend.
- This followed a $38M stock buyback that the company initiated in March 2020. Stock buybacks benefit shareholders by boosting a stock price.
Sources
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