Lowe’s Layoffs 2019 have the home improvement retailer cutting jobs for thousands of employees.Here’s what we know so far about the Lowe’s (NYSE:LOW) layoff plans.
- The company is eliminating maintenance and assembly worker positions.
- Instead, it will be outsourcing these jobs to a third party.
- This means that LOW employees will no longer be putting together and servicing products directly in the stores.
- Those hit by the Lowe’s layoffs 2019 are allowed to try and switch over to another open position at the company.
- According to the company, it will also be giving employees hit in the Lowe’s layoffs 2019 transition pay.
- The reason behind the layoffs is that it allows employees more time to focus on helping customers on the sales floor.
- However, it doesn’t look like Lowe’s employees are happy about that reasoning.
- Several have taken to TheLayoff.com to share their grievances about the decision.
- This includes concerns from employees that the third-party workers won’t be available for emergency repairs at local stores.
- Many also took issue with the changes that CEO Marvin Ellison has been making since last year.
- This includes closing down stores in an effort to reduce costs for the company.
- These closures come while the retail sector continues to struggle as online shopping grows larger.
LOW stock was largely unaffected by the layoff news as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.