Think about it.... Stocks are way down and store level sales are way down...... What do you think happens next?
16 replies (most recent on top)
Lowe's always trims the fat, aka "realignment", yearly. Typically in July/August timeframe. I am sure this trimming will start any day now. Especially with stock being low. If sales are low all over as well - then expect it soon.
layed off, milk it FOREVER, work my side gig.
Think it's time to get a new CEO!
The Pandemic covered and hid the incompetence of the "Team" that Marv has running the Company. Now that we're in more normal to challenging times, we are going to see the failed Sears/JC Penny strategies in full force. CUT, CUT, and CUT. Now, making some cuts during downturns are needed. That is common sense. The problem we have at Lowes is that Management makes cuts in selfish, political, and purely stupid ways in the wrong areas. Rather than cutting 25% headcount at HQ, cutting Vegas meetings, Vendor Golf outings, and Executive Pay, they take toilet paper out of the stores and cut front line employees and hours. The cuts these imbeciles are making just lead to lower and lower sales and lower morale of front line employees. It will probably take another 18 months, but we are surely on track for "New Leadership" here.
Well let's see. No toilet parer or hand soap in the bathrooms. ASM's infighting and undermining each other. Disengaged store managers. Genuinely pi---d off employees. Good thing the employee survey is coming soon.
Unionize, otherwise we are at the mercy of the executives and activist investors.
It was clear what 2022 would bring when the CFO stepped down for a lateral move. I’m sure he knew sales targets were in jeopardy, along with his huge bonus.
Low wages and cringe meetings trying to explain how it’s best for business.
Store managers will gaslight and BS their employees about how important cuts are, meanwhile they will continue their yearly Vegas trips to cheat on their spouses and significant others with other lowes managers who have the same low morals.
Trust me, I spent a lot of time in management with this company. These store managers and ASMs openly mock you and show absolutely zero remorse on how changes effect your lives. I’ve spent time in hotel conference rooms listening to other managers from all over talk so much cr-p about lowly associates. Using words like “histrionic”, “childish”, and “incompetent”. All these people want are more money, more recognition, and if their stores are failing, they blame you, with open contempt amongst their peers.
They have zero empathy for you. They think most of you are losers, f-ups, dr-ggies, and mentally deficient. Remember this the next time they harass you.
Honestly who cares anymore we're all highly trained the ones that have been here are good at what they do and they can find other work
I think they will target employees at all levels that make too much money. For example, if you are a long time store manager making high dollars, they will force them to hit certain metrics or be gone. Same with a high dollar csa, they will make them open credit cards, get leads or face weekly write ups. This is how Home Depot did things with a Marvin. They will tolerate a $90k sm not hitting metrics verses a $125k sm not hitting metrics. Lower paid can stay, higher paid shown the door
As long as the stock price languishes then I suspect that we will see position eliminations/reduction in workforce in the stores by January. Stagflation/inflation is not going anywhere any time soon and the company will have to react by cutting costs.
Marvin will make his famous speech "ask not what Lowes can do for you, but what you can do for Lowes"
Translation: for our lovely shareholders, please resign.
And we're heroes.
While there may be Job losses and store closings by the end of the year, as far as the entire company - probably it will be a long drawn out deterioration like Sears UNLESS Lowe’s finds a hero to lead them out of this current course (like Home Depot did).
Clubber Lane said it best: PAIN.
Well, with Project Simplify-the strategic intent seems to be get rid of any employees that are making more than McDonald”s wages. This would correspond with what happened during Marvin”s tenure at Home Depot.
People post on there favorite sites that Lowe*s is going under and will close before the year ends.