US home improvement retailer Lowe’s is eliminating approximately 600 positions across its corporate and support functions.
The reduction accounts for less than 1% of the company’s total workforce.
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In a statement to Retail Insight Network yesterday (15 February), Lowe’s said: “This reduction in corporate staff allows Lowe’s to strengthen our frontline focus while remaining agile in a dynamic home improvement environment.”
Affected employees will receive financial support, continued benefits for a limited period and assistance with career transitions.
The company added: “This step helps better align our resources to support our stores and the associates who serve customers every day.
“Decisions like this are never easy, and we approach them with care and thoughtfulness. We are grateful for the contributions these associates have made to Lowe’s.
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By GlobalData“We are committed to supporting them with financial assistance, continued benefits for a period of time and career transition resources.”
Lowe’s move follows similar workforce reductions across major US retailers.
Earlier this week, Target cut around 500 roles in office and supply chain functions to redirect spending towards additional hours for store-level employees under new CEO Michael Fiddelke.
The retailer had already removed 1,800 corporate positions last year as part of efforts to streamline its structure after an extended period of weak sales and declining share performance.
Separately, Amazon reduced its global corporate headcount by 16,000 roles last month as part of a broad restructuring.
The cuts spanned several key areas, including cloud computing, retail, human resources and media, and form part of a wider wave of job reductions across large technology companies.
