Home improvement retailer Lowe’s Cos has confirmed the elimination of a limited number of corporate positions in non-customer facing roles. The decision is part of Lowe’s ongoing efforts to enhance its operations and cut costs. The Mooresville, North Carolina-based company, like several other U.S. businesses, has chosen to streamline its workforce as part of its strategic evaluation.
In response to the job cuts, a spokesperson for Lowe’s stated, “Lowe’s is continually evaluating how to improve its operations. As part of this process, we have made some staffing changes that affect the jobs of a limited number of corporate associates in non-customer facing roles.” The company aims to optimise its structure to enhance efficiency and address evolving business needs.
News of the job cuts was initially reported by Bloomberg News. Lowe’s decision to reduce its corporate workforce aligns with broader trends in the U.S. corporate landscape, where companies are taking steps to manage costs and adapt to changing market conditions.
In a related development, Business Insider is also reportedly set to lay off around 8% of its staff. Additionally, eBay has announced plans to cut about 1,000 roles. Lowe’s had previously forecasted a more significant decline in annual same-store sales in November, citing reduced consumer spending on home improvement projects amid inflationary pressures.