Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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 16,027.05 -177.92 -1.10%
Nasdaq 4,283.75 -79.39 -1.82%
S&P 500 1,853.44 -26.61 -1.42%
Treasuries 1.74 -0.11 -6.11%
Data as of 9:26pm ET
Company Price Change % Change
Bank of America Corp... 12.27 -0.68 -5.25%
Chesapeake Energy Co... 2.04 -1.02 -33.33%
Facebook Inc 99.75 -4.32 -4.15%
Freeport-McMoRan Inc... 5.27 -0.41 -7.22%
Williams Companies I... 11.16 -5.96 -34.81%
Data as of 4:15pm ET
Sponsors

Sections

A former deputy secretary in Obama's Department of Education will take over the University of Phoenix's parent company, Apollo Education Group, once the sale is finalized. More

Yelp announced another loss Monday afternoon as its sales growth slows. The company also said its CFO is stepping down. More

Nonprofit JumpStart has launched a new $10M fund that will only invest in women and minority-led startups. The catch: You have to move to Ohio. More

A former deputy secretary in Obama's Department of Education will take over the University of Phoenix's parent company, Apollo Education Group, once the sale is finalized. More