Wednesday, Oct 16th

Last update05:20:13 AM GMT

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

E-mail Print PDF
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.


Most Recent Related Stories...

Wall Street tumbles as trade war threatens U.S. economy

Wall Street tumbles amid trade warWall Street’s main indexes suffered their sharpest one-day declines in nearly six weeks on Wednesday after...

All Avenue stores closing, liquidation now underway

All Avenue stores closing Another women's retailer is closing all of its stores. Plus-size retailer the Avenue will close its 222...

Report: US government losing billions in corporate tax revenue from IRS budget cuts

IRS losing billions from cutsThe federal government could have collected $34.3 billion more in taxes from the nation’s largest corporations...

Most Americans are living paycheck to paycheck, survey shows

Living paycheck to paycheck When you have a seemingly endless list of bills to pay and financial responsibilities to take...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!