Lowe's Cos Inc is laying off about 1,700 middle managers across the United States, the country's second-largest home-improvement chain said.
The news comes as home improvement chains focus on cutting costs to tackle tepid demand for expensive renovations in a slowly recovering. U.S. economy.
"We are streamlining our store management team -- creating assistant manager positions (4-6 per store) and placing members of the existing management team in those positions," the company's spokeswoman Julie Yenichek told Reuters.
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The news comes as home improvement chains focus on cutting costs to tackle tepid demand for expensive renovations in a slowly recovering. U.S. economy.
"We are streamlining our store management team -- creating assistant manager positions (4-6 per store) and placing members of the existing management team in those positions," the company's spokeswoman Julie Yenichek told Reuters.
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I know someone who works at the local Lowe's and they have already let 2 zone managers go. This is not good news at all.
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