Thread regarding Lowe's Cos. layoffs

Earnings miss

Once again store sales are up but profit is down. So with so many salaries being restructured, associates on skeleton crews, where is Nib squandering the money? Private company jets- check, Excessive stock compensation for himself and a few cronies- check - money to run a non relevant NASCAR team - check

Now the question is what else can he cut. He's outsourced computer jobs to India, he's eliminated positions in stores. But many states have new minimum wage rules like California. California is pushing the min wage up each year.

Rate (Jan. 1) 26 Employees or More 25 Employees or Less

2017 $10.50 $10.00

2018 $11.00 $10.50

2019 $12.00 $11.00

2020 $13.00 $12.00

2021 $14.00 $13.00

2022 $15.00 $14.00

2023 $15.00

Have fun driving your hard workers when your lowest level cart pusher is making $15

MOORESVILLE, N.C. (AP) — Lowe's second-quarter profit got a boost from the sales of an Australian joint venture, but its performance was weak by most measures in a vibrant housing market, and its profit outlook for the year was well below the expectations of industry analysts.

Shares fell 5 percent Wednesday in premarket trading.

https://finance.yahoo.com/news/lowes-misses-street-2q-forecasts-100847352.html

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Post ID: @OP+OUCiHx1

8 replies (most recent on top)

His new jet, mountain house and six figure yearly golf membership to start with.

Pig

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Post ID: @2aqav+OUCiHx1

Oh Hell, we have lost 8 Stockers in less than 7 months at our store, due unsafe supervisors, doing everyone else's job in the store, being unappreciated, and low pay. We are the hardest workers in this building, but when we step up our game, it is not noticed. Management wonders why we can't keep Stockers. Idiots.

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Post ID: @1nsm+OUCiHx1

I agree with employees feeling valued; however my store manager doesn't even talk to me much less know my name. She's too good to associate with bonus reducers. That's why we call her the princess.

I also agree Lowe's made a big mistake by getting rid of the department managers. The guy we had was hard working, personable, and would go to bat for us. His replacement, one of our full-timers who decided that she was going to act as department manager doles out assignments giving herself the choicest ones where she can walk around the store and chat with her friends.

I seriously doubt that 90 people left in 80 days, my store doesn't even have that many.

Lowe's needs to cut the dead wood; those employees that are unproductive.

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Post ID: @1qeh+OUCiHx1

STORE Level,,,,,The part timers, young ones hooked to their phones,,never found or show, old ones, needing benefits where there are none,

still put all in, ambitious ones looking for future and finding slim or none and full timers who really care are left wondering ,,, Where is my backup!,,,,,

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Post ID: @1rxm+OUCiHx1

Lowe's made a huge mistake when they eliminated Department managers as a former manager I will agree there was a lot of dead weight managers in the store myself I came in and took a struggling millwork Dept. And made it profitable with hard work and working from home all that got me was we no longer need your knowledge or work ethic good luck with the Lowe's people that are left. But they did me a favor I know work 10 miles from my job and work 7-4 and no weekends and I don't drive an hour to work at Lowe's

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Post ID: @tka+OUCiHx1

The store I am at lost 90 People (not Seasonal) in 80 Days. These were Long time Full Time Employees. Yet the Management Team Says that we are FULLY Staffed. HA 4 people after 8 pm that are covering the entire Store!!!!!

Soon There will be 1 LESS!

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Post ID: @nzq+OUCiHx1

In the first quarter, we identified an opportunity to drive more traffic with improved messaging and an optimized promotional strategy. We amplified our marketing messages in early June and we’re pleased with our traffic growth. However, in the second quarter, comp growth was constrained as a result of disruption caused by changes to our store staffing model earlier in the year, which became more apparent with increased traffic. While we remain confident that the leadership model is right for our long-term growth, change brings certain short-term challenges. I’m proud of the way our teams are responding diligently to respond to these challenges, filling open positions, learning new rolls and adapting to the new model. But we also recognize an opportunity to invest in incremental customer-facing hours to ensure that we’re proving an excellent customer experience in light of increased traffic. We’re taking these decisive actions to ensure our results meet our expectations going forward.

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Post ID: @gfe+OUCiHx1

Until he makes the employee feel valued and shows it no one will help him at store level. Most employees know how to do the minimum to get paid and keep their job. It's an art that's been perfect for the last 5 years.. He never will learn that people are motivated when they feel respected. The more you take away the less motivated they are..

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Post ID: @orv+OUCiHx1

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