2.2.10 | Grand Rapids, MI | Jim Hackett, CEO Steelcase, informed employees that their pay would be reinstated after being cut between 5 and 12 percent last year to save money. Last March, the company's highest-paid executives saw cuts of 10 percent to 12 percent, while all salaried workers took a 5 percent pay cut. The across-the-board pay cuts for salaried workers were the first in the history of the company, which employs about 13,500 globally. Wages for hourly workers were not cut last year. The cuts were to last for one year. Beginning March 1, employees will see their pay returned to what it was a year ago.

Steelcase was not alone in its pay cuts. Both Herman Miller and Haworth implemented salary reductions last year as well, which remain in effect.