Leggett & Platt Shares Plunge 8% on Business Update

Leggett & Platt Stocks Plummet 8% Amid Business Update

Leggett & Platt (LEG), the bedding components designer, witnessed a sharp decline of 8.5% in its stock price on Tuesday following the release of a business update. The company revealed its intention to consolidate 15 to 20 out of its current 50 production and distribution facilities in the Bedding Products segment. This consolidation plan, coupled with the announcement of job cuts, has raised concerns among investors, leading to the stock’s decline.