Wednesday, April 08, 2020

Leggett & Platt lays off 422 workers at Carthage facility

Leggett & Platt laid off 422 workers Friday, according to a WARN (Worker Adjustment and Notification) ACT filing with the Missouri Department of Higher Education and Workforce Development.

The company said the workers at Branch One, 229 N. McGregor, Carthage, were on "temporary, unpaid layoffs.

"These layoffs will continue indefinitely, but are intended to be temporary and last less than six months."

The layoffs occurred, the notice said "because of COVID-19-related business circumstances that were not reasonably foreseeable.

"We would like to have given more notice of this action, but were unable to do so because of how quickly our operations were affected by the COVID-19 pandemic, the World Health Organization's pandemic declaration on March 11, the President's declaration of a national emergency on March 13 and other related government announcements and actions."


Anonymous said...

Why is Leggett still paying dividends and continuing their share repurchases instead of taking care of their employees. I know it’s a big ego trip for the execs to say they have increased dividends for the last 30-40 years. However, shouldn’t their employees and their families be more important than shareholders at this time?

Anonymous said...

Were their employees and their families ever more important than shareholders at Leggett and Platt? At any time?

Anonymous said...

If Leggett drops the dividend, the share price will tumble SIGNIFICANTLY and will stay down. I got laid of from Leggett and would rather my investments stay somewhat safe and get the ridiculous unemployment amount and I think many of the long-term workers would agree.