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Lowe's cuts managers, plans lots more part-timers

By Parija Kavilanz, senior writer

NEW YORK (CNNMoney) -- Lowe's Cos., the No. 2 home improvement retail chain, is cutting 1,700 managerial jobs while adding up to 10,000 part-time workers in order to better staff its stores for weekend shoppers.

Lowe's (LOW, Fortune 500) informed employees Tuesday about the layoffs, said company spokeswoman Chris Ahearn.

"We are restructuring our operation model to put more employees in stores during the peak [shopping] time," said Ahearn.

The move eliminates 1,700 middle management positions as the company "flattens" its management structure into two levels instead of three, now represented by store managers and assistant managers.

At the same time, Ahearn said Lowe's is also hiring between 8,000 to 10,000 part-time workers nationwide to improve customer service in stores over the weekends.

Ahearn said the laid-off middle managers can apply for the part-time positions as well as any other job opportunities available with the company.

Mooresville, N.C.-based Lowe's employs a total of 238,000 workers nationwide.

Lowe's shares were unchanged in premarket trading. To top of page

Index Last Change % Change
Dow 16,854.46 64.27 0.38%
Nasdaq 4,772.90 24.54 0.52%
S&P 500 1,989.61 9.69 0.49%
Treasuries 2.07 0.03 1.67%
Data as of 2:25pm ET
Company Price Change % Change
Freeport-McMoRan Inc... 13.02 1.19 10.10%
Bank of America Corp... 15.72 0.03 0.19%
General Electric Co 27.66 0.38 1.37%
Apple Inc 110.33 -0.98 -0.88%
Micron Technology In... 18.63 0.41 2.25%
Data as of 2:10pm ET


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