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 serving 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.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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