By Arthur Villasanta / 08/01/19

Source: International Business Times

Lowe’s refused to specify how many thousand employees lost their jobs this time or which stores will be affected by these job losses. It currently has 1,725 stores throughout the United States. Lowe’s employs 190,000 full-time employees and another 110,000 part-time workers at these stores.

To replace these people, Lowe’s plans to outsource maintenance and assembly workers’ jobs to outside contractors to further slash costs. Assembly workers put together products such as wheelbarrows and grills, for example.

“We are moving to third-party assemblers and facility services to allow Lowe’s store associates to spend more time on the sales floor serving customers,” said Lowe’s in a statement to CNBC.

The firings are the latest under new CEO Marvin Ellison, who only took over in July 2018. Since becoming the top guy at Lowe’s, Ellison has approved shutting-down stores across the country and firing employees in masse to reduce costs.

Lowe’s is justifying the mass firings by saying these will allow store workers to “spend more time on the sales floor serving customers.”

Effects of Layoffs at Lowes: Chatter from the field

“Created apathy among the ranks. I have experienced low to no staffed appliance departments on too many occasions. Recently appliance RSA’s are often called upon to cover and help customers in other Depts such as Plumbing and Flooring.”

 

“It has had a negative impact on customer service as many Lowe’s have had minimum coverage or no one working in appliances to assist customers which has led to consumers walking out of the department.”

 

“Associates are very frustrated with being short staffed and worried they might be next up to be let go. Attitudes are angry and not as friendly or willing to work.”

Nathan Bomey and Paul Davidson, USA TODAY

Published 12:03 p.m. ET Aug. 2, 2019 | Updated 1:27 p.m. ET Aug. 2, 2019

President Donald Trump signaled that he would hike tariffs on Chinese imports next month after recent talks failed to deliver a trade deal, escalating his trade war with Beijing and taking more direct aim at consumer products.

This latest threat is to introduce a 10% tariff on $300 billion in Chinese imports not covered by earlier tariffs.

“It’s adding further stress to an already stressed trade environment,” says Gregory Daco, chief U.S. economist of Oxford Economics. “It adds up to a very significant slowdown in economic growth.”