About 1,700 managers at Lowe's home improvement stores around the country will soon lose their jobs, according to media reports late Tuesday.
The Mooresville-based retailer plans to spread the cuts across many of its 1,725 locations, Bloomberg reported. The company, which employs some 238,000 people, will also soon begin hiring some 8,000 to 10,000 additional part-time weekend sales staff.
Spokeswoman Chris Ahearn said Tuesday that the company redefined hundreds of middle-management jobs and will eliminate those between assistant store manager and store manager on Saturday. There are between four and six managers at most of the company's stores.
Affected managers were notified Tuesday and their last day of work is Saturday.
Lowe's has been profitable in recent quarters, despite the continued beating that the housing market has taken from foreclosures and lower home values. The company has pushed smaller, do-it-yourself projects instead of larger home construction or remodeling projects that used to help drive its business.
In its third fiscal quarter, ending last October, Lowe's reported $404 million in profits. Sales rose nearly 2 percent to $11.6 billion. The growth in profits trailed rival Home Depot though, and analysts have forecast that trend will continue.
Know an affected employee, or were you laid off? Contact Ely Portillo at 704-358-5041, or elyportillo@charlotteobserver.com.