Mooresville-based Lowe’s cuts 95 corporate IT jobs

Home improvement retailer Lowe’s has laid off 95 employees in its information technology department.

Sixty of those positions are at its corporate headquarters in Mooresville, and the remainder are at other company locations in North Carolina and Texas, spokeswoman Connie Bryant said.

In a statement to the Observer Monday, the retailer said it made the decision to eliminate the tech jobs last week after a review of its IT resources, resulting in the “streamlining” of some IT processes.

“Our employees are a top priority so our focus now is on helping those who were impacted by this change make the transition to new employment outside the company,” said the company, which is providing severance and outplacement services.

Bryant said the 95 employees who lost their jobs have the opportunity to reapply for other positions at Lowe’s.

Lowe’s isn’t the only area corporation to slash tech jobs recently. Charlotte-based Bank of America, for example, has been laying off dozens in its technology operations unit locally as part of “ongoing efficiency efforts,” the bank has said. Charlotte Observer owner McClatchy has also laid off some tech workers as it outsources some functions to India-based Wipro.

In a previous change-up in its tech functions, Lowe’s opened an office in Bangalore, India, in 2014 to handle data-driven analytics and technology work that was previously handled by third-party contractors, Bryant said.

The job cuts at Lowe’s could be one way the retailer is looking to improve profitability. Lowe’s has consistently trailed behind its larger rival, Home Depot. Despite the boost from an improving housing market, Lowe’s reported second-quarter sales and profit in August that were lower than Wall Street expectations.

Lowe’s operated 2,108 home improvement and hardware stores in the United States, Canada and Mexico as of July 29. In the U.S., Lowe’s employs about 270,000 people, including approximately 4,000 at its Mooresville customer support center.

This story was originally published October 3, 2016 at 11:24 AM with the headline "Mooresville-based Lowe’s cuts 95 corporate IT jobs."