The
economy is still showing its fangs. Lowe’s is closing 20 of its U.S.
locations and eliminating nearly 2,000 jobs, and the home improvement
retailer is slashing its store-opening plans to improve profitability.
Lowe’s, which operates about 1,700 stores in the U.S., said yesterday
that it had closed 10 on Sunday and would close another 10 within a
month. Some 1,950 workers will lose their jobs. Meanwhile, the company
also said it planned to open only 10 to 15 new North American stores per
year starting in 2012, down from a previous goal of 30.
