Lowes Layoffs, Stock/Job advice

[clarence]

JOB
Hey fam. I have worked for Lowes in southern Cali for the last four years. In that four years we have had our slow seasons, but this recent slow season we have started to layoff employees. As of yesterday I was layed off and now I'm seeking employment in the LA/Long Beach/South Bay areas. I have extensive experience in the door and window sales field, I'm computer proficient, and I have a AA degree (still a student). I am interested in the realestate field. If anyone knows any FAST realsestate classes in the area, I would appreciate any advice. Any suggestions in regards to the above will be greatly appreciated.
STOCK
PS I know that alot of the fam has stock and I have several thousand in Lowes stock (recently split), but what puzzles me is how will a layoff effect Lowes stock price????????????? Should I sell or try to wait out the slow season??????? I'm confused because Lowes is cutting cost by laying off employees, but that also decreases the number of employees to service the customers. My old store is literally on a skeleton crew and it was ALREADY understaffed before the layoff. Sales will go down in proportion to the lack of help on the floor and long checkout lines. The day I got layed off I had 3 late orders that were actually in the building, but we started the layoffs with recieving so there was no one to do the paperwork to put them in our system! Not to mention, the door/window department has only 4 people of the seven that would be a full staff, with 1 of those people transfering in 2 weeks!!!! Shall I sell or wait it out???????????????????????????????????

 

[Lick]

What up Dawg!
I sent you a PM with information on one of the best schools in So Cal.
Stay up!

 

[afroyale]

JOB
Hey fam. I have worked for Lowes in southern Cali for the last four years. In that four years we have had our slow seasons, but this recent slow season we have started to layoff employees. As of yesterday I was layed off and now I'm seeking employment in the LA/Long Beach/South Bay areas. I have extensive experience in the door and window sales field, I'm computer proficient, and I have a AA degree (still a student). I am interested in the realestate field. If anyone knows any FAST realsestate classes in the area, I would appreciate any advice. Any suggestions in regards to the above will be greatly appreciated.
STOCK
PS I know that alot of the fam has stock and I have several thousand in Lowes stock (recently split), but what puzzles me is how will a layoff effect Lowes stock price????????????? Should I sell or try to wait out the slow season??????? I'm confused because Lowes is cutting cost by laying off employees, but that also decreases the number of employees to service the customers. My old store is literally on a skeleton crew and it was ALREADY understaffed before the layoff. Sales will go down in proportion to the lack of help on the floor and long checkout lines. The day I got layed off I had 3 late orders that were actually in the building, but we started the layoffs with recieving so there was no one to do the paperwork to put them in our system! Not to mention, the door/window department has only 4 people of the seven that would be a full staff, with 1 of those people transfering in 2 weeks!!!! Shall I sell or wait it out???????????????????????????????????

The main reason for the layoffs is due to the horrible real estate market. Lowes is in the business of selling stuff to home owners... especially new home owners, BUT AIN'T NOBODY BUYING HOUSES! This means no remodeling. No demand for building materials -- windows, doors, nails, lumber, pego floors, granite countertops etc.

Now on to Lowes's stock.

If you're not cash strapped, can get another job within a few months then hold (but be prepared to hold until the RE market recovers -- may be in 2 to 5 years).

 

[Chase Bannon]

I use to work for Lowes. Lowes is now beating Home Depot because Home Depot is on a hiring freeze. My boy works for Home Depot Corporate and told me they went back to the drawing board to train staff members on customer service. They do have horrible customer service.

House buying has slowed some, but people are still getting homes remodeled. I say hold on to your stock because it has split. A friend of mine who was there for 20 years and she is only 36, she is about to retire. She has had stock in Lowes for ages. I'm pretty sure she is sitting on 200k or more.

I think you should hold on to your stock and let the dividends reinvest themselves and collect more loot down the road.

 

[Lick]

The main reason for the layoffs is due to the horrible real estate market. Lowes is in the business of selling stuff to home owners... especially new home owners, BUT AIN'T NOBODY BUYING HOUSES! This means no remodeling. No demand for building materials -- windows, doors, nails, lumber, pego floors, granite countertops etc.

Now on to Lowes's stock.

If you're not cash strapped, can get another job within a few months then hold (but be prepared to hold until the RE market recovers -- may be in 2 to 5 years).

Brother Yale,
I see were you are but with all due respect you are not completely on point here. Ya see our brother is in the Long Beach, Los Angeles area of California. Lowes is not the cheapest place in town to buy goods and not to mention they opened stores all over the place and their competition is Home Depot.
Real Estate sells in our area is slow yet still moving. This cycle is a bit different as far as we have never experience this long period with Real Estate prices on the upward swing. We had this occurrence over six years ago in San Diego & in the San Jose areas down in Southern CA & Northern CA. Over six years later and their prices on home have lowered very little.
Bro... Lowes is a very small part of a very large picture.
I know by now you are tired of me posting this. However, we have a housing shortage here in California and the working class can not afford the price of the average home. The so called middle class is shrinking just as Mr. Donald J. Trump & Mr. Robert T. Kiyosaki have been predicting for years now. The question our brother is asking really is what should he do? He informed us of his skills, what he has for reserves and an idea of what he thinks as far as his next move (Real Estate School).
Your advice to our brother is to get another J.O.B.
I have this one question to ask, If you do or repeat what you have done in the pass, how can you expect anything to change?
Stay up!

 

[afroyale]

Brother Yale,
I see were you are but with all due respect you are not completely on point here. Ya see our brother is in the Long Beach, Los Angeles area of California. Lowes is not the cheapest place in town to buy goods and not to mention they opened stores all over the place and their competition is Home Depot.
Real Estate sells in our area is slow yet still moving. This cycle is a bit different as far as we have never experience this long period with Real Estate prices on the upward swing. We had this occurrence over six years ago in San Diego & in the San Jose areas down in Southern CA & Northern CA. Over six years later and their prices on home have lowered very little.
Bro... Lowes is a very small part of a very large picture.
I know by now you are tired of me posting this. However, we have a housing shortage here in California and the working class can not afford the price of the average home. The so called middle class is shrinking just as Mr. Donald J. Trump & Mr. Robert T. Kiyosaki have been predicting for years now. The question our brother is asking really is what should he do? He informed us of his skills, what he has for reserves and an idea of what he thinks as far as his next move (Real Estate School).
Your advice to our brother is to get another J.O.B.
I have this one question to ask, If you do or repeat what you have done in the pass, how can you expect anything to change?
Stay up!

Please explain why the brotha was laid off if Lowes is the greatest invention since sliced bread?

Lowes, just like several other retailers, makes their profit from VOLUME, not price. A dollar store that sells millions of plastic cups a year, would make more than a speciality store that sell statues of GW Bush for $500 a piece.

Right now, Lowes sales volume is DOWN regardless of how pricey their products are in CA. The reason is simple -- the housing market has crashed. Instead of advising the brotha to checkout another area of employment, you're encoruraging him to go into the same area that aint working.

 

[Lick]

Please explain why the brotha was laid off if Lowes is the greatest invention since sliced bread?

Lowes, just like several other retailers, makes their profit from VOLUME, not price. A dollar store that sells millions of plastic cups a year, would make more than a speciality store that sell statues of GW Bush for $500 a piece.

Right now, Lowes sales volume is DOWN regardless of how pricey their products are in CA. The reason is simple -- the housing market has crashed. Instead of advising the brotha to checkout another area of employment, you're encoruraging him to go into the same area that aint working.

Well… I never said it was the greatest about anything and for the most part you are correct about the volume. However, you still seem to miss the point or you have some kind of mental block or something.
Real Estate is similar to buying Stocks. You buy them low or at a discount and you only want to sell when they are up. The deals are beginning to show up… Some are from guys that made bad decisions (Max out the equity and buy a SUV) like consume the equity and some are something like your attitude with the sky is falling.
Real Estate is a very good business to be in and a person can become very wealthy using it… Like Donald Trump.
Stay up Dawg!

 

[AristotlesOwn]

Usually layoffs mean profits for shareholders, so I say hold. Home Depot and Lowes have some of the most stable stock on the market....as Afroyale states, the real estate market has to recover at some point, but it may be a few years.

 

[lilpig]

Real Estate is similar to buying Stocks. You buy them low or at a discount and you only want to sell when they are up. The deals are beginning to show up…
Stay up Dawg!

Very True. Whenever the majority of investors in GOOD stocks/investments are selling you should be getting ready to buy. When they begin to buy, you want to be the one holding the bag and selling to them. The biggest flaw with humans and investing is they invest with their emotions. The big boys just sit back in their boat and let them make the wave rise. But like Buffett says "When the tide leaves, you'll see who's been swimming naked."

 

[EnSabahNur]

JOB
Hey fam. I have worked for Lowes in southern Cali for the last four years. In that four years we have had our slow seasons, but this recent slow season we have started to layoff employees. As of yesterday I was layed off and now I'm seeking employment in the LA/Long Beach/South Bay areas. I have extensive experience in the door and window sales field, I'm computer proficient, and I have a AA degree (still a student). I am interested in the realestate field. If anyone knows any FAST realsestate classes in the area, I would appreciate any advice. Any suggestions in regards to the above will be greatly appreciated.
STOCK
PS I know that alot of the fam has stock and I have several thousand in Lowes stock (recently split), but what puzzles me is how will a layoff effect Lowes stock price????????????? Should I sell or try to wait out the slow season??????? I'm confused because Lowes is cutting cost by laying off employees, but that also decreases the number of employees to service the customers. My old store is literally on a skeleton crew and it was ALREADY understaffed before the layoff. Sales will go down in proportion to the lack of help on the floor and long checkout lines. The day I got layed off I had 3 late orders that were actually in the building, but we started the layoffs with recieving so there was no one to do the paperwork to put them in our system! Not to mention, the door/window department has only 4 people of the seven that would be a full staff, with 1 of those people transfering in 2 weeks!!!! Shall I sell or wait it out???????????????????????????????????

First off, sorry to hear about your layoff Clarence. 2nd, I also work for Lowes in upper management and I will try to shed some light on the subject for you. We go through this every few years. Yes, both Home Depot and Lowes depend on the housing market. Yes, no matter what people tell you about both cater to different markets, is full of BS. We compete head on against each other for sales. Yes, the housing market is real slow in Cali right now, but for Lowes, Cali is not a big market for us all, we have only about 50 stores in Cali, and maybe 70 total on the westcoast. We are however, trying to gain more of a presence on the entire westcoast, but that will take time. The only reason why we have the few stores we do in Cali and westcoast, is due to the buyout of another company a few years back -EAGLE. There are only a hand full of stores that made an exceptional amount of money for the company in Cali. I'm not saying all didn't, just saying the ones that would exceed budget and not have to cut back to skeleton crews, such as your store. The first thing they will teach you in management, is the only real aspect of retail in which you have total control is -PAYROLL-. With payroll, you can fully control it by cutting back to save money that you pay parttimers and specialists. As far as sales, that is controlled fully by your customers.
Now, the real reason we are cutting back company wide (with the exception of the high volume stores & districts), is believe it or not, is Katrina, Rita, & the year in which Florida got banged up by 5 or more Storms that season. Why? Because of these storms, we made record numbers and sales from a lot of our stores in Region 23. Most of the stores in this region, if not all, made their budget and also exceeded it. What this means, is (1) a huge payout of bonuses, steming from SVP all the way down to CSAs. Now keep in mind, some of these upper positions, recieve well over $150,000 for their bonus, as well as the stock options that are giving too. Now this does not include, all the district managers, store managers, zone managers, dept. mangers, specialists, and CSAs. Lowes coporate had to pay out huge bonuses this past year, along with more likely to come from this region again. Our sales are still good over all, although some stores are feeling a slow down. The stores that are feeling a slow down from Region 23, is from the new budget that is set based on sales fromt the previous year. When budgets are set off a natural disaster, it more than likely can't be reached, because it was something that caused by destruction, which caused unusual sales. Since, we are not reaching the new budget set, but we are comp. still comp way over, Corp. looks at it, as a time to tighten the belt. Nothing I hate more than having to tell an employee that either he or she, needs to step down to a cashier, buggy pusher, parttime, or take a extended vacation without pay(which is atleast a month, no one can live like this). Some workers don't even get this option at all, just flat out terminated. This is still considered a slow season for the company, although it is has lasted a little longer on the westcoast, it is pretty much over in most places outside of that coast. We are doing hiring now, but still trying to get rid of any slackers in these stores or seasonal people. We will probably end up calling a lot of these workers to come back in a month.
Anyway, you asked about your stock options. This is just me, I wouldn't let it go, they are still very good shares to have. But for the best advice for you, you should speak with your financial advisor. He or she knows more about your financial aspects then we do. Also, check out myloweslife.com for more info considering your current situation. You must have your employee sales number and password to get in. You should still have all of that and access to this as well. Continue getting your education to better yourself. You also, could do what a lot of former employees do, go to Home Depot, they will hire you in a second. The same as a Lowe's store hiring a former Home Depot employee. Easier to train, plus both bring new ideas to the new employer.
Good luck

PEACE!!!!!

 

[deputy dawg]

"...You also, could do what a lot of former employees do, go to Home Depot, they will hire you in a second. The same as a Lowe's store hiring a former Home Depot employee. Easier to train, plus both bring new ideas to the new employer."


1st thing I thought of when I read your title. You are the Golden Child to a nearby Home Depot. Also think in terms of related companies that can use your expertise/experience. Your door & window experience is what a door & window manufacturer needs, or even a contractor can use your skills to get measurements prior to them installing product. Home sales may be down but people are still fixing their existing properties.

Reach out to the local chapter of a Real Estate investors group and let members know you are a recent "BIG BOX" employee with window/door experience. They'll value your knowledge in their aim to get these types of products installed quickly. inexpensively and correctly.

(Ask me how I know? This is me "urging" a door to work right or else... )

http://www.creonline.com/real-estate-clubs/ca.html

Here's links to some chapters:

The Real Estate Club of Los Angeles
http://www.realestateclubla.com

Contact: Phyllis Rockower
Telephone: (310) 793-7069
When: 2nd Tuesday of each month, 7:30pm
Where: Crowne Plaza (starting in March: Radisson LAX), Los Angeles

San Diego Creative Investors Association
http://www.sdcia.com

Contact: George Moreno
Telephone: (858) 499-1018
When: 2nd Wednesday of each month, 6:00pm networking, 7:00pm meeting
Where: Scottish Rite Center, Mission Valley

Orange County Real Estate Forum (OCRE)
http://www.ocreforum.com

Contact: Norm Rockmael
Telephone: (949) 726-8446
When: 2nd Thursday of each month, 7:00pm to 10:00pm
Where: Double Tree Hotel, Irvine Spectrum
Pacifica Ave. & Barranca Pkwy., Irvine

Sad to hear about the lay-off but look at it as the chance to blast off from where you were. Sometimes we are forced into greater things!!

*********************************************************
LICK said it best! Here's another way of saying it-
"In order to have things you've never had you're going to have to do things you've never done."

I'mma take you up on your knowledge/experience offer. Check your PM in a day or so...

 

[Lick]

"...You also, could do what a lot of former employees do, go to Home Depot, they will hire you in a second. The same as a Lowe's store hiring a former Home Depot employee. Easier to train, plus both bring new ideas to the new employer."


1st thing I thought of when I read your title. You are the Golden Child to a nearby Home Depot. Also think in terms of related companies that can use your expertise/experience. Your door & window experience is what a door & window manufacturer needs, or even a contractor can use your skills to get measurements prior to them installing product. Home sales may be down but people are still fixing their existing properties.

Reach out to the local chapter of a Real Estate investors group and let members know you are a recent "BIG BOX" employee with window/door experience. They'll value your knowledge in their aim to get these types of products installed quickly. inexpensively and correctly.

(Ask me how I know? This is me "urging" a door to work right or else... )

http://www.creonline.com/real-estate-clubs/ca.html

Here's links to some chapters:

The Real Estate Club of Los Angeles
http://www.realestateclubla.com

Contact: Phyllis Rockower
Telephone: (310) 793-7069
When: 2nd Tuesday of each month, 7:30pm
Where: Crowne Plaza (starting in March: Radisson LAX), Los Angeles

San Diego Creative Investors Association
http://www.sdcia.com

Contact: George Moreno
Telephone: (858) 499-1018
When: 2nd Wednesday of each month, 6:00pm networking, 7:00pm meeting
Where: Scottish Rite Center, Mission Valley

Orange County Real Estate Forum (OCRE)
http://www.ocreforum.com

Contact: Norm Rockmael
Telephone: (949) 726-8446
When: 2nd Thursday of each month, 7:00pm to 10:00pm
Where: Double Tree Hotel, Irvine Spectrum
Pacifica Ave. & Barranca Pkwy., Irvine

Sad to hear about the lay-off but look at it as the chance to blast off from where you were. Sometimes we are forced into greater things!!

GOOD ONE DAWG!
Stay up!!!

 

[clarence]

First of all I would like to thank ALL for any imput into my situation. I'm only 23 years old and its like I have 10 uncles (BGOL) to ask anything i ever wanna know about anything. I am currently embracing my situation. My bills are low enough that unemployment will be able to cover them while I persue the fastest way to get my realestate liscense and take a boat load of classes in college. Lick "I have this one question to ask, If you do or repeat what you have done in the pass, how can you expect anything to change?" was an eye opener. I have been thinking this but not until you wrote it did I come to the realization that I don't want a job. I have been saying that I hate Lowes for the past 4 months. God gives us what we ask for in the oddest ways. If I take this "opportunity" and get another job, I will end up in the same boat as I'm in today some years from now. I'm an entrepreneur at heart and will not settle for another job. I didn't get layed off, I got kicked in the ass. Another job will NEVER give me the financial independence that I want, and it will not give me a chance to live to my potential. Once again thanks for ALL the advice...If any of the above names need anything that I might be able to contribute my expertise to be sure to PM me. I'm young but informed, and I have a few connections. I have been at Lowes for years seeing people rehabing homes and pouring stupid amounts of money into them. I can tell you door and window companies (through Lowes and other retailers) that will give you a $1000 look for $600, and ony I can tell the difference. Thanks again fam.

 

[Lick]

Hey Dawg!
It will be a tuff road but the rewards are great! You know how to catch up with a brother... Stay up!

 

[Chase Bannon]

JOB
Hey fam. I have worked for Lowes in southern Cali for the last four years. In that four years we have had our slow seasons, but this recent slow season we have started to layoff employees. As of yesterday I was layed off and now I'm seeking employment in the LA/Long Beach/South Bay areas. I have extensive experience in the door and window sales field, I'm computer proficient, and I have a AA degree (still a student). I am interested in the realestate field. If anyone knows any FAST realsestate classes in the area, I would appreciate any advice. Any suggestions in regards to the above will be greatly appreciated.
STOCK
PS I know that alot of the fam has stock and I have several thousand in Lowes stock (recently split), but what puzzles me is how will a layoff effect Lowes stock price????????????? Should I sell or try to wait out the slow season??????? I'm confused because Lowes is cutting cost by laying off employees, but that also decreases the number of employees to service the customers. My old store is literally on a skeleton crew and it was ALREADY understaffed before the layoff. Sales will go down in proportion to the lack of help on the floor and long checkout lines. The day I got layed off I had 3 late orders that were actually in the building, but we started the layoffs with recieving so there was no one to do the paperwork to put them in our system! Not to mention, the door/window department has only 4 people of the seven that would be a full staff, with 1 of those people transfering in 2 weeks!!!! Shall I sell or wait it out???????????????????????????????????

What eventually happened with this situation?