NORWALK, Ohio — Custom upholstery manufacturer Norwalk Home furniture has entered into an settlement to give ownership to its workers as a result of an personnel stock ownership prepare.
Effective Sept. 1 and every 12 months thereafter, all comprehensive-time staff will be provided shares in the business as a result of their retirement price savings. The gain is funded solely by the organization and involves no out-of-pocket expense by personnel. The price of the shares at retirement will depend on the extensive-time period general performance of the group.
On completion of the transition, Norwalk’s new proprietors via the ESOP at