Lowe's to cut 'less than 1 percent' of workforce


Jan 12 (Reuters) - Lowe's Cos Inc, the No. 2 U.S. home improvement chain, is expected to cut "less than 1 percent" of its workforce in the near future, CNBC reported on Thursday, citing a person familiar with the matter.

The company is also said to change its store staffing model and reshuffle the roles and responsibilities of some of its staff, CNBC reported.

Lowe's had about 180,000 full-time and 90,000 part-time employees as of Jan 29, 2016.

"While we have no announcements to share, we continually evaluate our staffing model to ensure we have the resources in place to serve customers' evolving expectations and their home improvement needs," CNBC quoted the company as saying.

The company was not immediately available for comment.

Lowe's decision comes amid brick-and-mortar retailers struggling to gain market share as they battle with online competitors such as Amazon.com Inc who offer similar products at lower prices. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Maju Samuel)