Mooresville based Lowe's Home Improvement cutting workforce

One of Charlotte area’s largest employers, the Mooresville based Lowe’s Home Improvement, has announced it is cutting jobs.

Several media reports said the company will be cutting 2,400 jobs, or about one percent, of its workforce.

Most of the cuts involve assistant store manager positions.

FOX 46 Charlotte has reached out to the company for a statement. Check back for updates on this developing story. 

Statement from Lowe's Companies, Inc.: 

"We are shifting some roles and responsibilities versus eliminating them, so that the vast majority of associates affected will have the opportunity for new roles at Lowe’s. Unfortunately, the store model will also result in the reduction of approximately 1-2 assistant store manager positions per store.

In addition, we have consolidated some leadership positions in our Customer Support Centers and Distribution Centers, impacting about 37 employees nationwide, and approximately 10% of vice presidents in the corporate office. In total, this impacts less than 1% of our workforce, approximately 2,400 employees.

While today’s staffing decisions are not easy, we are continuing to invest in the future of our business. Lowe’s financial position is strong and the fundamentals of the home improvement industry are solid. Over the next three years, we expect to spend $3.6 billion in capital, including plans for 15 to 20 new stores per year, and create approximately 4,000 store-level jobs."