Home Depot closing; Lowes restructures
The Daily ReflectorWednesday, January 26, 20113 Comments | Leave a Comment
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Home Depot stores in Greenville and Rocky Mount will be closing their doors, according to company officials, and its competitor, Lowes, has announced it will lay off 1,700 managers nationwide.
The Home Depot on Memorial Drive in Greenville and the one on North Wesleyan Boulevard in Rocky Mount will close after a liquidation clearance sale that begins Thursday, according to company spokesman Stephen Holmes.
The stores were not expected to meet targeted long-term financial returns, Holmes said. Employees were notified Tuesday morning by management.
Both stores will keep regular hours today and Wednesday, and the liquidation will begin Thursday. Such sales usually last about six to eight weeks, Holmes said. There is no set closing date; the stores will close once the merchandise is sold.
The Greenville location employed 96 people, and the Rocky Mount location employed 89. Employee numbers will be scaled down as the sale continues.
Holmes said this was “a difficult decision” because these stores had “great associates.”
“This is difficult mainly because of the impact on the associates,” Holmes continued.“It wasn't anything they did wrong. It was very difficult from that standpoint.”
Holmes did not want to speculate on the future, but he said there are no plans at the moment to add any more stores in the area.
Lowe's Cos, the nation's No. 2 home-improvement chain, announced Tuesday it is laying off about 1,700 middle managers nationwide and adding thousands of hourly, part-time sales staff on weekends, according to the Associated Press.
Spokeswoman Chris Ahearn said Tuesday that the company redefined hundreds of middle-management jobs and will eliminate those between assistant store manager and store manager on Saturday.
The company will start taking applications next week to fill the 8,000 to 10,000 new positions, to be spread evenly among Lowe's 1,725 stores. Ahearn said the changes will give the company the staff in needs to help its customers when they shop the most — weekends.
About 20 percent of stores will not lose staff. Lowe's has about 238,000 employees, with four to six managers at each store.
Ahearn declined further comment, citing Lowe's upcoming earnings report.