Reduction comes less than two months after former CEO left company
Lexington, Ky. – Tempur Sealy International has cut nearly 50 positions at its Lexington headquarters. The cuts are part of a 2 percent worldwide workforce reduction for the company.
The reduction in Lexington represents about 10 percent of the employees at the corporate headquarters.
In a statement released by the company the cuts this week were implemented “to better streamline the company and improve operating productivity.”
Further, Temper Sealy said the decision were taken “to strengthen its long-term competitive position in the industry, and not the result of any recent developments.” About two months ago, CEO Mark Sarvary left the company and was replaced by Scott Thompson.
“The changes in structure have impacted quality people, and we are committed to treating them with respect and assisting them in their career transitions,” the company said in a release.
Tempur Sealy will release its financial results for the third quarter on Oct. 29.