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Lowe's Will Lay Off Thousands Of Store Workers

Lowe's is laying off thousands of workers. The company plans to outsource jobs of maintenance and assembly workers to third-party companies. The assembly workers put together products such as wheelbarrows and grills, according to the reports.

The move is a sign that new chief Executive Officer Marvin Ellison plans to continue to cut costs aggressively to improve profits at the company. Earlier this year, the company cut its profit targets for the year.

Lowe's employed 190,000 full-time and 110,000 part-time workers as of February 1.

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