The parent company of Home Depot, Lowe’s and Sam’s Club announced Wednesday that it will lay off as many as 30,000 employees.
The announcement came as part of a broader restructuring plan announced Tuesday by the company, which said it expects to cut 2,500 jobs and cut more than 1,200 associates by the end of 2018.
The company said the layoffs will be made in parts of its stores, and the layoffs won’t be complete until the end.
Lowe’s said in a statement that it is continuing to work with its partners to implement new and effective practices, and will continue to offer its employees a strong work-life balance.
Lowes is one of the most profitable companies in the U.S., with revenue of nearly $3 billion last year.
The company also owns a significant number of local stores.