Leggett & Platt Inc. (NYSE: LEG) disclosed 215 more temporary layoffs in Carthage, bringing the company’s furlough count to at least 637 amid the coronavirus pandemic.
The manufacturer announced the furloughs in an April 22 Worker Adjustment and Retraining Notification Act filing with the Missouri Division of Workforce Development.
"These layoffs will continue indefinitely, but are intended to be temporary and last less than six months," the filing reads. "We are taking these employment actions because of COVID-19-related business circumstances that were not reasonably foreseeable."
The temporary cuts, which started March 23, impact a plant in Carthage – just off of Interstate 49 – that produces insulation components for the bedding industry through the company's Flex-O-Lators division.
The Carthage-based manufacturer of engineered components and products for homes, offices and vehicles earlier this month disclosed in a WARN notice that it made temporary layoffs at a separate plant in its hometown. The furloughs impacted 422 employees at a bedding component manufacturing plant in Carthage.
Leggett & Platt recently disclosed in a U.S. Securities and Exchange Commission filing that its top five executives last year collectively posted total compensation of more than $20 million.
LEG shares were trading at $31.66 as of 11:18 a.m., compared with a 52-week range of $22.03 to $55.42 per share.
SBJ survey data is used to analyze the flow of money.
Michael Smith and Chris Sawyer, COO and CEO of Next Level Solutions respectively, discuss how they keep their remote teams and offices in and out of country on the same page. Next Level Solutions was ranked #1 in the Springfield Business Journal's 2021 Dynamic Dozen.
John Oke-Thomas, architect and co-founder of minorities in business, responds to the accusation that minority businesses are only successful because of the priority they have received in lending. He says that if a business uses a loan well, it shows their worth.
Sandra Smart, a technology and commercialization specialist, shares tips for entrepreneurs who are ready to seek funding. Some of her tips apply broadly; some target technology industry businesses. Smart works with tech entrepreneurs and startups, and hosts training workshops through the Missouri SBDC at Missouri State University's efactory.
Hollie Elliott discusses common misconceptions about locating your business in a small town. She says that there are a lot of benefits that people may not consider.
Drawing on his own experience dynamically evolving his company and business model, Jim Meinsen discusses when and how you might need to draw on new technology. Jim and Debbie Meinsen are co-owners of TCI Graphics in Springfield.
John Oke-Thomas, longtime Springfield architect, discusses his philosophy on architecture. He says that future historians will be focused on the sustainability of our contemporary architecture.
Erin Hedlun, director of marketing and communications at Evangel University, says compassion is an important job skill. Hedlun says it is a component of what makes a leader.
Rachel Barks, owner of Artistree Pottery, talks about the concepting that went behind the aesthetic of the business.
Caleb Scott, coach and co-owner of Queen City Insane Asylum football team, says he had to sacrifice early on to make sure his team had places to play. With the business climate at the time, it wasn't easy.
Aaron York talks about the culture he fosters at Donco3 as the general superintendent. York says the key is to treat your business like family.