Real life Monopoly without regard for employees?
Ergotron, the manufacturer of ergonomic computer and office furniture has announced that it will be closing the former Anthro facility in Tualatin, Oregon and laying off 103 employees.
The closure and layoffs come four years after Nortek, the parent company of Ergotron, acquired Anthro Corporation, itself the spinoff of the iconic electronic test equipment manufacturer Tektronix, in January 2015.
The decision, according to a company spokesperson, was driven by “changing business needs.”
Nortek acquired by GKN who wants to sell Nortek…
Nortek, Inc., a diversified global manufacturer of innovative, branded residential and commercial ventilation, HVAC and home technology convenience and security products and parent of Ergotron and Anthro brands of ergonomically designed computer and office furniture itself is at risk from its owner, British engineering company GKN PLC which appears to be preparing to sell parent company Nortek Inc. as part of a scheme to fund GKN’s pension fund liabilities.
GKN acquired by Melrose Industries — wants to sell Ergotron…
Even worse, as of September 2018, “Melrose Industries, the turnaround group behind the hostile takeover of the British engineering group GKN, has put the sale of Ergotron on hold following the illness of its US subsidiary’s chief executive.”
“Ergotron, which makes desks and other office accessories, was acquired by Melrose as part of its $2.8bn takeover of air management and home security group Nortek in 2016. Nortek had previously bought Ergotron for $280m in 2010.”
Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you wondering, Am I Next?