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You are here News Economy Lowe's lays off thousands of store employees amid pressure to boost profits

Lowe's lays off thousands of store employees amid pressure to boost profits

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Loew's lays off thousands

Lowe's is laying off store workers who handle certain maintenance and product assembly tasks as the home-improvement chain continues to cut costs in a bid to boost profits.

The chain confirmed that it is "moving to third-party assemblers and facility services to allow Lowe’s store associates to spend more time on the sales floor serving customers."

The Wall Street Journal reported that the number of layoffs is in the "thousands" and described the affected workers as including workers who "put together grills, wheelbarrows and other products."

Those positions are being outsourced to a third-party company.

"Associates who were in these positions will be given transition pay and have the opportunity to apply for open roles at Lowe’s," the company said in a statement.

Mooresville, North Carolina-based Lowe's has about 300,000 employees and about 2,200 stores.

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