other material
confidence high
sentiment negative
materiality 0.50
La-Z-Boy finalizes Newton, MS upholstery plant closure effective Sept 16; 180 jobs affected
LA-Z-BOY INC
- Closure effective Sept. 16, 2022; facility accounts for <5% of La-Z-Boy branded upholstery production.
- Approximately 180 employees affected; ~235 employees in Newton internal supply remain.
- Originally announced for closure in June 2020 due to COVID; temporarily re-activated in Oct 2020.
- Company added capacity and rebalanced across >5M sq ft of North American manufacturing space.