New York (CNN Business)Lowe’s is laying off thousands of workers.
Layoffs will include assemblers, who put together items like grills and patio furniture. The company will also cut maintenance and facility-service jobs, such as janitors. The company said it is outsourcing those positions to third-party companies.
Lowe’s (LOW) declined to say exactly how many workers will be laid off. It said that workers whose jobs are being eliminated will be given transition pay and have the opportunity to apply for open roles at Lowe’s. The Wall Street Journal first reported Lowe’s plan.
“We are moving to third-party assemblers and facility services to allow Lowe’s store associates to spend more time on the sales floor serving customers,” a spokesperson for Lowe’s said.
Lowe’s operates more than 1,700 stores in the United States. As of February 1, Lowe’s employed approximately 190,000 full-time and 110,000 part-time employees in the United States, Canada and Mexico.
Under CEO Marvin Ellison, who joined the company last year from JCPenney, Lowe’s has launched an ambitious turnaround plan to compete against Home Depot (HD) and other retailers.
Previously, Lowe’s closed 20 US stores, exited its Mexico business and shut down its 99 Orchard Supply Hardware stores in the United States. The company is also slashing inventory.
The home improvement sector has been one of the bright spots in retail against Amazon (AMZN) and online rivals. Unlike many department stores and mall-based retailers, Lowe’s, Home Depot and home improvement retailers have not made mass store closures.
“In this very challenging retail landscape, we’re fortunate to be in a sector with high demand,” Ellison said at a retail conference in June. “We’re focused on what we call retail fundamentals.”
Wow
Not good
They only hire part time even though congress has cracked down on hiring practices and this? Bet the CEOs are doing just fine
The stock is worth half of what HD goes for.
With part timers they don’t have to pay any kind of benefits. It also makes the economy look good. So, instead of hiring 20 employees full time, they hire 40 part time. Which is basically the same thing: the numbers fools the innocents.
Lionel Ullger this whole great economy thing is a big fasad
Lionel Ullger so many companies are doing it now.
#tempted
I work at Lowe’s. There’s part time benefits.
Lionel Ullger eat that fake news
Donna Risner this started about 3 years ago. it’s not the “great economy thing” it’s GREED, and Lowe’s will loose.
I worked for them for 3 years, the first 2 were great, then they decided to revamp, cut positions, cut employees (GREAT FOR LOUSY CUSTOMER SERVICE).
blame GREED of corporate CEO’S.
Jon Jones not the same as full time benefits. If you have children or a sick spouse your SOL.
Jon Jones are they as good as full time benefits?
Chris Tean Kinsaul no
Ohhh yeah Ok because that will save them money right. ??
People can’t afford to live in houses anymore.Lots of people are living in their cars I hear.
Dawn Sobo not if you worked hard you’re not
Laura Lange some people get sick & cant work anymore or they have high property taxes $
This is what happens when you want $15 an hour for $8 an hour jobs
Yeah screw them for wanting fair pay!
Every job has a price, if you dont like the price do something to qualify yourself for a better job
The best at anything, can earn a solid living on that thing
Rob Phillips they did do something, they got the minimum wage changed
And thats why people are being laid off and jobs are being cut
Pick your battles because you may get what you want but the result may not be as you expect
Your right….. and now the prices at Lowe’s will go up and fast food chains ..it’s not rocket science but some people are just plain dumb and 15 an hr will be like 8 when your money won’t go as far
Rob Phillips agree
How many of those layoffs are seasonal workers hired for busy summer season?
Carly Rhiannon Sparks
Dylan Reilly I know. That I know of so far I’m safe but that can easily change
Oh man ?
Stephanie Ann
Misty Potoczak yeah we fired 7 people this week
Joe Collura
My Lowe’s cut 7 people and delivery workers got pushed to overnight hours
they went 3rd party delivery over 3 years ago. buy your appliances from a LOCAL REPUTABLE STORE.
they will have people available to fix anything that goes wrong, unlike Lowes where you have to hire a “manufacture approved” repair man. smh
Audrey Fichot Frederiksen yeah I meant like or delivery coordinators are now overnight it’s so ridiculous
Kathryn Wood
When you outsource you end up paying more in the long run.
Never buying shit from them again good bye Lowe’s going straight out of business in the next 10 15 years
Every season change u see outsourced crews in there put stuff together. 4 guys bang out those grills in no time.
I used to work in this retail space ( not Lowes )more than 30 years ago. Even then it was normal for people to be let go and/or have hours cut way back after the Spring and early Summer busy season was over. We also used to hire an outside firm that would travel from store to store doing assembly – so this is not really new(s) as all. We even had a contracted cleaning crew that would come and get locked inside the store at night to clean while the store was closed.
Very sad
Thomas Martin
Jeremy Vajda fuck Lowes so glad I don’t work for that shit hole company anymore. This is what happens when the new CEO comes J.C. Penny. Running the company right into the ground just like Penny’s
It really very sad
I’d wait to hear it direct from Lowe’s and not CNN. So many news media’s twisting stories around to make everyone look like villains
Joseph Bongiovanni
Getting ready for the $15 hr minimum wage
Chris Phander
They just built a new IT building in Charlotte and putting in a “university” in their Charlotte headquarters.