I already had two customers this evening that saw Ellison’s latest cuts on the news & asked if Lowe’s is in serious financial trouble! The optics of what he’s doing are negative to say the least. We’re the only major home improvement retailer that’s cutting & downsizing. It’s an embarrassment!!!
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Gotta remember that Marvin is like thanos. If your position or store doesn’t add value to the company, with one snap of his fingers your gone.
Yea sales really aren’t plummeting. Lol. You might wish they are. But they aren’t.
In the end there is only one optic that matters. No matter what propaganda the PR department comes up with designed to keep the stock price up, bottom line is, sales are plummeting.
All these angry angry posts just solidify that the people posting needed to go. Part of Lowe’s problem is entitled employees who don’t see that Home Depot has been kicking ur a-- and u need to change. Marvin is making hard choices that need to be made. All the store closings are actually gonna make Lowe’s more profitable. The dumb a-- previous leaders opened and bought stores that didn’t make money. You all need to read the analyst and investor info. Be educated.
With all the Lowe's stores closing around the world, including Orchard Supply and in Mexico, and then the mass layoffs in the U.S. yesterday, it sure looks like Lowe's is in trouble under Marvin Ellison's leadership. What can one expect from a guy who failed at both J.C. Penny and Home Depot? I don't know what it is with these corporations being proud of hiring people who couldn't get it together elsewhere.
I was with Sears for nearly 10 years and saw it happen there too. I left Sears LP to become Lowe's LP several years ago, thinking Lowe's would be a better company. I was wrong. My position was eliminated yesterday, and I was passed over for multi-unit because my boss's drinking buddy, with worse numbers and reviews, was chosen instead. I had already been a mentor for another store a couple hours away for more than a year, which is a level 5 store and can't find their own LP Manager. They've been without an LPM for months. What's more, they just canned their LP Associate who was well experienced any pretty much running the show, so now that store will have no LP at all.
Wanna hear irony? The Sears I left is still open, is one of the most profitable Sears in my state, and still has LP.
Of course they are not going to announce to the world that they just gave about 75% of their loss prevention team the axe today. Might as well just hand out a free Generator to every crackhead that walks in the door.
By the way, the stock was up over $94 a share prior to the news getting out this afternoon. After it hit the news of the layoffs the stock closed down at $93.34!
Not sure what Kool-Aid some you drank today? The majority of those 60k jobs are seasonal, actually about 55k are seasonal. There’s over 8k professional employees gone today. Both LP & PSI, these are knowledgable professionals, that’s a lot of talent walking out the door. Give it some time for Wall Steet to see the large drop in revenue by years end. See what the stock price is then. Have some more Kill-Aid. By the way, pick up some Vaseline, everyone will get their walk out the door at this outfit!
Ok Einstein .... how about the 10K MST ?? Mostly FT and all will be retained.... how about the 6000 managers ??? All FT and all will be retained ...... finally the 2000 IT ... all FT and all will be retained. Companies must change ... Lowe’s has Been getting beat badly by Home Depot so obviously what we have been doing simply isn’t good enough.
Anonymous, Lowe's hires seasonal employees every year 65,000 means we are keeping 5 percent of them. Nothing negative, your not one who's being effected by this so be quiet.
Not sure if they will be inexperience millennials or not but hopefully they will have far better outlooks and attitudes about their employer then people on here. I understand people being upset but when u look at the facts of the day Lowe’s announced far far far more hiring today than laying off.
Super positive we are going to hire a bunch of inexperienced millenials..... that's great news. 🤗🤗🤗🤗🤔🤔🤔🤔🤔🤔
Interesting. All the news out there is super positive around the hiring message. Stock was even up 3%. I couldn’t find even one negative article.
A customer in plumbing this Friday evening about a PSI project for there bathroom with the signs about psi about bathroom and kitchen projects and had to tell customers we dont do psi projects anymore! Lack of communication is Marvin going to start using the same brand of toliet tissue as home depot
I was at Lowe's for 15 years in market 884. Left 2 years ago best thing I ever did..... The ship is shinking. At a company now who values it's employees love it where I'm at. Grass is greener on the other side good luck all... I chime in here because still have a lot of good friends being put through the ringer.
I had the same thing happen when we had the great purge of ASMs and DMs.
I had a contractor who buys cabinets say pretty much the same to me. I didn’t know how to respond.