Steelcase Officially Sold, Will Workers Keep Their Jobs?

Steelcase has been a staple company in Grand Rapids, Michigan, for 113 years, and was recently sold for $2.2 billion. What's next for the local workers?

Steelcase: A Grand Rapids Company For Over A Century

Steelcase was founded in 1912 by Peter Martin Wege. In the beginning, the company made fireproof metal safes, and four-drawer metal filing cabinets. Since that time the company has moved to office chairs, desks, tables, workstations, storage, education, and health.

Steelcase has grown into a global leader in workplace design and manufacturing, creating innovative furniture, architecture, and technology solutions to help people work, learn, and heal better.

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Steelcase Sale Raises Questions About Employee Stability

According to WOOD TV, Steelcase has been sold to Iowa-based HNI Corporation for $2.2 Billion in an acquisition deal. HNI shareholders will hold 64% of the new combined company, while Steelcase shareholders will carry the other 36%.

Steelcase is a major local employer and innovator in the office furniture industry. The company has over 2,000 employees in West Michigan. When a sale like this is made, the first question is, what is going to happen to the company and its employees in Grand Rapids?

The good news is Steelcase will keep its Grand Rapids headquarters and continue under the same brand, while its 2,000 local employees will continue the work they have been doing, so there will be no job losses.

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