Latest round of layoffs at Lowe’s hits Charlotte region corporate office workers
One of the Charlotte region’s largest employees confirmed it has cut jobs at its corporate office.
A “limited number” of corporate workers at Lowe’s were laid off last week, the Mooresville-based company said in a statement to The Charlotte Observer. The job cuts were “non-customer facing roles” and did not impact stores.
Lowe’s would not say the total number of workers who will be losing their jobs. The company has about 11,000 employees in the Charlotte region, including 5,000 corporate workers as of August.
“Lowe’s is continually evaluating how to improve its operations,” Lowe’s said in the statement emailed late Friday.
Affected employees were offered severance and job placement services, and may apply for other jobs at the company.
It’s the latest round of corporate office layoffs for the home improvement retailer.
Last year, Lowe’s confirmed layoffs in April and November at its corporate office and some of its IT service desk staff. The number of job cuts was not disclosed.
In November, Lowe’s reported total sales slumped 7.4% to $20.5 billion in its third quarter ending Nov. 3. CEO Marvin Ellison blamed “greater-than-expected pullback” in do-it-yourself discretionary spending, particularly in big ticket items. DIY sales make up 75% of Lowe’s business.
Despite the recent layoffs and missed earnings, Lowe’s store employees twice last year received one-time and profit-sharing bonuses worth $190 million combined.
Lowe’s operates over 1,700 home improvement stores and employs about 300,000 people, most of which are hourly.
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