(Adds company's comment, background)
Jan 12 Lowe's Cos Inc, the No. 2 U.S.
home improvement chain, is expected to cut "less than 1 percent"
of its workforce in the near future, CNBC reported on Thursday,
citing a person familiar with the matter.
The company is also said to change its store staffing model
and reshuffle the roles and responsibilities of some of its
staff, CNBC reported. (cnb.cx/2iMi1Ac)
Lowe's had about 180,000 full-time and 90,000 part-time
employees as of Jan 29, 2016.
"While we have no announcements to share, we continually
evaluate our staffing model to ensure we have the resources in
place to serve customers' evolving expectations and their home
improvement needs," Lowe's spokeswoman Colleen Penhall said in
Lowe's cut its full-year earnings and sales growth forecasts
in November as fewer of its do-it-yourself customers remodeled
homes due to an unseasonably hot fall season.
The company's focus on the do-it-yourself customer has
weighed on its growth at a time when U.S. home improvement
retailers are benefiting from higher wage growth and increased
(Reporting by Gayathree Ganesan in Bengaluru; Editing by Maju