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Lowe’s Reducing Its Workforce

Lowe’s has plans for laying off and changing job descriptions for thousands of people in its workforce, according to The Wall Street Journal.

Lowe’s employs more than 285,000 workers, and will be cutting the positions of less than 3,000 of them “as the home-improvement retailer tries to adapt to shifting shopping habits,” The Wall Street Journal article reports.

In addition, the company will move other employees who have “back-of-house responsibilities” into customer service roles to assist shoppers directly in stores, the article says.

Lowe’s net earnings took a hit in the third quarter of 2016, failing to perform as well as the company projected. Net earnings were $379 million, the company reported in November. In contrast, the company’s earnings were $1.2 billion in the second quarter.

“Our third-quarter operating results were below our expectations due to slower sales in the first two months of the quarter,” says Robert A. Niblock, chairman, president and CEO.

About Kate Klein

Kate is profiles editor for Hardware Retailing magazine. She reports on news and industry events and writes about retailers' unique contributions to the independent home improvement sector. She graduated from Cedarville University in her home state of Ohio, where she earned a bachelor's degree in English and minored in creative writing. She loves being an aunt, teaching writing to kids, running, reading, farm living and, as Walt Whitman says, traveling the open road, “healthy, free, the world before me.”

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