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Lowe’s Lays Off About 125 Tech Employees

Lowe’s Lays Off About 125 Tech Employees

Lowe’s has laid off approximately 125 of its corporate technology employees and will move many of their positions to Bangalore, India, according to The Charlotte Observer.

These layoffs are the latest of many staff cuts for Lowe’s, which has eliminated about 3,000 jobs this year.

The latest job reductions had been planned years in advance and were done in an effort to build a global team to best position the company “in this highly competitive 24/7 retail environment,” chief information officer Paul Ramsay says in a memo obtained by The Charlotte Observer. Lowe’s is headquartered in Mooresville, North Carolina, near where the Observer is located.

Employees affected by the job reductions will be given severance packages and connected with outplacement services, the internal memo says.

The Charlotte Observer reports that Lowe’s currently employs approximately 1,000 information technology and analytics workers in Bangalore.

Lowe’s reported financial growth in its first quarter of 2017, with 10.7 percent higher sales than in the same period in 2016.

The company continues to expand, and recently announced it is buying a Texas distributor to grow its pro business. The distribution company is Maintenance Supply Headquarters, a supplier of maintenance, repair and operations products for businesses in the multifamily housing industry, according to Lowe’s. The retailer expects to finalize the $512 million purchase after receiving regulatory approval and during Lowe’s second fiscal quarter, which ends in July.

Lowe’s is one of the largest home improvement chains in North America and operates more than 2,000 stores in the U.S., Canada and Mexico.

About Todd Taber

Todd Taber
Todd is an assistant editor for Hardware Retailing magazine. An Indiana native, he graduated from Indiana University where he majored in journalism and French. Throughout his career, he has aimed to highlight small businesses and their community value. He joined NRHA in 2017 and now serves on the news and marketing teams. In his free time, he likes to run, spend time with family and work his way through Charles Dickens’ bibliography.