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Lowe's laying off about 1,700 managers, adding weekend staff
Morrisville, N.C. -- Lowe's Cos. announced Tuesday that it is laying off approximately 1,700 middle managers across the United States in an effort to cut costs as its profit trains rival The Home Depot. The retailer also plans to add 8,000 to 10,000 weekend sales assistants to improve staffing during its stores’ busiest times.
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Customer Growth Partners projects 5.1% retail growth in 2011
New Canaan, Conn. -- The retail industry will grow by 5.1% in 2011, the strongest growth in four years, according to Customer Growth Partners’ 2011 Forecast and Outlook. The New Canaan, Conn.-based consulting and research firm projects that the industry will create over half a million new jobs in 2010, the most of any employment sector, and that retail sales will reach a record level of almost $2.9 trillion.