Lowe’s Lays Off 125 Tech Workers
Amid efforts to improve its profitability, home improvement retailer Lowe’s said last week that it has laid off 125 corporate tech workers, primarily at its headquarters in Mooresville, N.C. Many of the affected information technology jobs are being sent to Bangalore, India, where Lowe’s employs approximately 1,000 people in IT and analytics. In a memo to IT workers Wednesday, Chief Information Officer Paul Ramsay said the staffing reductions are part of a planning effort that began “several years ago” to build a more diverse, global team to respond better “in this highly competitive 24/7 retail environment” and move quickly to “evolving consumer needs.”
Total Retail's Take: Lowe’s current layoffs are the latest in several rounds of job reductions over the last year. The home improvement retailer eliminated 96 corporate tech jobs in October, then in January cut another 2,400 full-time positions, mostly at the store level. In February, Lowe's had more than 500 corporate layoffs, including 430 at its headquarters in Mooresville. This latest round of layoffs comes at a critical time for Lowe’s. Last month, the company posted disappointing sales and earnings numbers for the first quarter. Lowe’s has been working to catch up to its larger rival, Home Depot.