Lowe’s Cos is eliminating some corporate positions, Bloomberg News reported on Thursday citing a company spokesperson.

The staffing changes will affect the jobs of a limited number of corporate associates in non-customer facing roles, the report added citing the spokesperson.

Lowe’s did not immediately respond to a Reuters request for comment.

The retailer had forecasted a steeper drop in annual same-store sales in November, as inflation-hit consumers pulled back spending on home-improvement projects.

The Mooresville, North Carolina-based firm joins a growing number of U.S. companies trimming their workforce as they seek to cut costs.

News website Business Insider is laying off around 8% of its staff, while eBay will cut about 1,000 roles.

© 2024 Thomson/Reuters. All rights reserved.

Read the full article here


Comments are closed.