Lowe’s corporate downsizing, initially reported as a reduction in customer service employees, will apply to corporate staff as well, according to an article in the Charlotte Observer.
A letter sent to Lowe’s employees on Feb. 10 by Maureen Ausura, the company's executive VP human resources, said the retailer wants to streamline processes and identify cost-savings opportunities. Buyout notices were given to eligible employees on Feb. 13, the newspaper reported. Employees who take the buyout will receive a lump-sum payment, based on how long they've been with the company.
If enough people do not take the “voluntary separation agreement,” layoffs could follow, Ausura's letter said. Lowe’s employs 5,200 in its Mooresville and Wilkesboro, N.C., locations. It is not known how many layoffs the company is planning.
Ausura also said the company is restructuring the way it provides bonuses to "reward teamwork and collaboration." Lowe’s is eliminating commissions for most sales positions in stores, according to the letter.