Lowe's to Cut Thousands of Store Workers, Shuffle Jobs
January 12 2017 - 4:56PM
Dow Jones News
By Sarah Nassauer and Paul Ziobro
Lowe's Cos. is cutting thousands of workers and shuffling the
jobs of thousands more, according to people familiar with the
matter, as the home-improvement retailer tries to adapt to shifting
shopping habits.
The company plans to eliminate less than 1% of its workforce, or
fewer than 3,000 jobs, said a person familiar with the matter. But
it also will shift many workers' "back-of-house responsibilities
and activities to customer-facing ones," the person familiar said,
aiming to redeploy them to help answer shoppers' questions about
products or home-improvement projects.
The move comes after the Mooresville, N.C.-based hardware
retailer in November cut its profit outlook for the year, citing
weaker-than-expected store traffic.
"We've got to make sure that as the consumer is changing the
ways they engage with us, we continue to be nimble," said Lowe's
Chief Executive Robert Niblock in an interview at the time. Lowe's
employs around 285,000 people.
CNBC reported earlier about Lowe's layoff plans.
Write to Sarah Nassauer at sarah.nassauer@wsj.com and Paul
Ziobro at Paul.Ziobro@wsj.com
(END) Dow Jones Newswires
January 12, 2017 16:41 ET (21:41 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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