YOUR BUSINESS AUTHORITY

Springfield, MO

Leggett & Platt to lay off 130

Posted online

Leggett & Platt Inc. (NYSE: LEG) plans to eliminate 130 positions in Neosho, according to a Dec. 15 Worker Adjustment and Retraining Notification Act notice filed with the state.

The Carthage-based manufacturer of engineered components and products for homes, offices and vehicles is shutting down its two Talbot Industries plants in Neosho, according to the filing.

"Talbot manufactures welded and formed wire and tubing products, primarily for the retail industry," the filing reads. "The closure is the result of Leggett's decision to exit a portion of the business that is no longer strategic to the company and consolidate a small part of the business into other Leggett operations."

Leggett & Platt expects to lay off the first of the employees around Feb. 18, with the remaining exiting the company by the end of April.

The majority of the affected employees, 115, are production and product support workers, according to the filing.

As of Sept. 30, Leggett & Platt held assets of $3.3 billion and employed 22,000 people across 15 business units and 120 manufacturing plants in 19 countries.

LEG shares were trading at $47.42 as of 10:07 a.m., compared with a 52-week range of $43.17 to $54.97.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick

Who Owns the Block: Glenstone Avenue and Primrose Street

Where megaretailers abound and more development is coming

Most Read