HNI Corporation to Close Wayland Facility by 2027, Resulting in 135 Job Cuts
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 08 2026
0mins
Source: Businesswire
- Strategic Consolidation: HNI Corporation plans to close its Wayland, New York manufacturing facility by 2027, intending to consolidate production into other North American facilities, which is expected to enhance productivity and meet capacity requirements.
- Financial Impact: The restructuring is anticipated to result in approximately 135 job cuts and incur around $14.9 million in restructuring and depreciation costs in 2026, potentially affecting the company's short-term financial performance.
- Product Stability: All products currently produced at the Wayland facility will be shifted to existing facilities, ensuring no changes to the product portfolio and maintaining the quality and service standards of the Gunlocke brand, thereby enhancing customer trust.
- Transition Support: HNI is committed to providing support and resources to Wayland employees throughout the transition period, aiming to ensure a smooth transition and mitigate the negative impacts of the layoffs.
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Analyst Views on HNI
Wall Street analysts forecast HNI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HNI is 60.00 USD with a low forecast of 60.00 USD and a high forecast of 60.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 47.330
Low
60.00
Averages
60.00
High
60.00
Current: 47.330
Low
60.00
Averages
60.00
High
60.00
About HNI
HNI Corporation is a manufacturer of workplace furnishings and residential building products. Its Workplace Furnishings segment is a designer and provider of commercial furnishings. Workplace furnishings include furniture systems, seating, storage, tables, architectural products, ancillary products, and hospitality products. Its Residential Building Products segment is a manufacturer and marketer of hearth products, which include a full array of gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories. These products are sold through a national system of independent dealers and distributors, as well as corporation-owned installed distribution and retail outlets. Its brands include HON, Allsteel, Beyond, D’style, Gunlocke, Kimball, HBF, HBF Textiles, Interwoven, David Edward, and others. It exports select products through its export subsidiary to North America, principally the Caribbean, Latin America, and Mexico.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
HNI Corporation to Close Wayland Facility by 2027, Resulting in 135 Job Cuts
- Strategic Consolidation: HNI Corporation plans to close its Wayland, New York manufacturing facility by 2027, intending to consolidate production into other North American facilities, which is expected to enhance productivity and meet capacity requirements.
- Financial Impact: The restructuring is anticipated to result in approximately 135 job cuts and incur around $14.9 million in restructuring and depreciation costs in 2026, potentially affecting the company's short-term financial performance.
- Product Stability: All products currently produced at the Wayland facility will be shifted to existing facilities, ensuring no changes to the product portfolio and maintaining the quality and service standards of the Gunlocke brand, thereby enhancing customer trust.
- Transition Support: HNI is committed to providing support and resources to Wayland employees throughout the transition period, aiming to ensure a smooth transition and mitigate the negative impacts of the layoffs.
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February 2026 Options Now Accessible for HNI
Covered Call Strategy: An investor can buy HNI stock at $43.37 and sell a covered call at a $45.00 strike price, potentially earning a total return of 3.87% by February 2026, excluding dividends and commissions.
Risk of Expiration: The $45.00 strike price is about 4% above the current stock price, with a 54% chance that the call contract may expire worthless, allowing the investor to keep both the shares and the premium collected.
YieldBoost Calculation: If the covered call expires worthless, the premium would provide a 0.12% additional return, or 0.66% annualized, referred to as YieldBoost.
Volatility Insights: The implied volatility of the call contract is 43%, while the actual trailing twelve-month volatility is calculated at 31%, indicating different market expectations.
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