Continued problems in the furniture industry
Polish furniture manufacturer – Forte – is restructuring employment.
The decline in demand for furniture that has been growing for some time has naturally translated into the deteriorating financial results of many furniture manufacturers. It also left its mark on the Polish company Forte, which reported that the latest financial results confirmed a decline in sales revenues and a drop in operating profit by several percent compared to the data for the same period in 2022. This prompted the company’s representatives to take remedial steps. In recent days, company representatives informed about the need to reduce employment. It was announced that it would cover nearly 9% of employees, i.e. 237 people. It is estimated that the effect of this decision will be the minimization of personnel costs by PLN 16 million per year. Moreover, the manufacturer announces that it will not stop at these activities. It plans to take actions to further reduce employee costs, reduce the amount of waste generated, better use of materials and optimize energy consumption. All this is aimed at further increasing the efficiency of our business.
It is worth adding that Forte has been in existence for over 30 years and operates on over 40 foreign markets. She was not the only one who experienced the consequences of the deterioration of the economic situation. In October last year, we reported that another furniture company, the Klose company, had ceased operations. In 2023, other representatives of this industry often drew attention to the increasingly difficult situation resulting from, among others, from rising costs of running a business, high inflation, falling demand, difficulties in obtaining raw materials and prices of available raw materials.