UPDATE 1-Interface to cut 530 jobs; sees Q4 charges

Dec 30 (Reuters) - Modular carpet manufacturer Interface Inc (IFSIA.O) said it will cut 14 percent of its global workforce, or 530 jobs, and cease manufacturing operations at its facility in Belleville, Canada, to reduce costs amid softening demand.

The company said it will take a related pre-tax charge of about $11 million in the fourth quarter of 2008 and expects annualized cost savings of about $30 million as a result of the restructuring.

Interface, whose brands include InterfaceFLOR, FLOR and Bentley Prince Street, expects to complete the restructuring activities in the first quarter of 2009.

The company, which has operations in the United States, Europe and Asia-Pacific, said it would retain its sales and distribution presence in Canada and source products from its other facilities.

Shares of the company closed down 4 percent at $4.77 Tuesday on Nasdaq. (Reporting by Mihir Dalal in Bangalore; Editing by Deepak Kannan)