Lowe's (LOW -0.9%) intends to offer some workers buyout packages as part of a broad...


Lowe's (LOW -0.9%) intends to offer some workers buyout packages as part of a broad cost-reduction plan. Though the company didn't specify the number of workers affected, it says a majority of the employees will be from its corporate offices.
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Comments (2)
  • SJM
    , contributor
    Comments (11) | Send Message
     
    I wonder how that is going to affect the stock? I thought they were starting to turn things around.
    Effective 2/11, Lowes cut all employee "spiffs" and special order incentives on the sales floor.Which really affected the appliance department employees.In some cases that was 50% of their income.Flooring and millwork departments will be effected also.
    They did get a small compensation. But commissions are a thing of the past.Not sure how long Lowes will maintain the number two spot in appliance sales.They were on the heels of Sears for the number one spot.
    I guess they're lucky to still have jobs.
    Fortunately I'm "long" in Lowes,but not sure for how long though.
    I hope they know what they're doing.
    14 Feb 2012, 05:17 PM Reply Like
  • planA
    , contributor
    Comment (1) | Send Message
     
    Employee with 15% discounted stock purchase plan... SOLD 1/18 at $27.51, but high usually in April... we will see if last 2 years repeats in this Presidential election year. Sales people have quotas to be used vs. last year as performance vs. being replaced with lesser cost personnel... greater profits... some store management seem to be talking of a stock pop in future. Could it be from this program?
    15 Feb 2012, 05:39 AM Reply Like
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