The cost cutting needs to start at the Top first! Corporate wastes millions on outrageous salaries and stock-options, the Vegas Party, incompetent IT management and systems that are broken daily!!! Customers care about having products and associates in the stores to help them when they shop. The Corporate Office is a Vulgar display of wealth, it’s more like a resort than a place of business! The company is top heavy with to much upper and middle management.
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Marvin, the ultimate DEI hire.
Layoffs always come at this time of the year and hiring in early spring.
Good luck Lowe’s Co., Inc.
Former CEO goes out and a New CEO comes in with the intent to “count the fat” and make the company more leaner. I remember that the axes started at the corporate, Mexico and then Canada. Yes, EPS is based on sales and earnings that shareholders are only interested. I now see more private label products (higher profit returns)overtaking/eliminating brand name products.
Good luck Lowe’s Co.Inc.
Old School lesson: The good, the better and the Best for products.
Lowe’s was built on value products, brands and most of all GREAT customer service ones on one.
Well when you do the math and see that our CEO makes more in a day than the average store worker makes in an entire year that kind of says it all.
LOVE the comment about Stock buybacks. There are two reasons the inept, abhorrently over compensated "Leadership" pumps so much money into the Stock buybacks while cutting payroll and other investments that could lead to long term company viability:
- It increases the "Earnings per Share" simply by reducing the number of shares outstanding, even when sales/profits are poor. This "Earnings per Share" metric, while relished by Wallstreet, MEANS NOTHING in terms of a company's true performance or long term viability.
- Naive investors look at increasing "Earnings per Share" without realizing that it has NOTHING to do with performance when it is driven up by stock buybacks, and then buy more stock taking up the stock price.
Both of these reasons have ONE objective in mind: Maximize the millions in insane bonuses paid by the company to the "Leadership" as nearly all of said bonuses are based on the stock price of the company. If you think that "Leadership" gives a rat's an-s about you, and what you do for Lowes, you know nothing about the "Leadership".
And they love making their little threats and try to intimidate employees
" I am and that without the “job creators” we all wouldn’t have any employment so we should just shut the f@ck up and be grateful that they bother to give us anything at all"
The people who run this company and the hedge fund people did not create any jobs in this company, they slashed them. They are not competent and have no business running a shoe shine stand.
Are you 17 years old?
What this company really wastes money on is stock buybacks! Can you imagine pi$$ing away 15 BILLION a year just to artificially elevate your stock price!? They could take .001 percent of that a give every hourly associate a bonus for working in understaffed stores but they won’t. Because in America today, it’s not work that’s valued, it’s wealth. We no longer give a d@mn about those people in the companies who do 99% of the work, all that matters are the wealthy investors who make up 90% of the people who own stocks.
I eagerly await all the responses by the corporate employees who monitor this site who want to tell me how naive I am and that without the “job creators” we all wouldn’t have any employment so we should just shut the f@ck up and be grateful that they bother to give us anything at all. I always enjoy being talked down to by those who consider the rest of us to be mindless imb€ciles. I especially enjoy them desperately defending their ins@ne salaries. It’s always fun to have people tell me how lucky I am and how grateful I should be, who wouldn’t lower themselves to do my job. Arrogant, patronizing kool aid drinkers are so much fun. Please regale me about how stock buybacks are “standard practice in the industry” and how uneducated I am about not understanding them. They’re not a desperate attempt to prop up your stock price, they’re an innovative accounting trick employed by CEOs everywhere. (This is the part where I roll my eyes just in case you were wondering).
we are in agreement