Lowe’s Companies, Inc., nicknamed Lowe’s, is an American retail company. This company specialises in selling home essentials and hardware. The retail stores sell almost all home essentials such as tools, appliances, bathroom fittings, building supplies, lighting and ceiling fans, outdoor power equipment, flooring items, kitchen essentials, and electrical items. The first Lowe’s store was opened in 1921 by Lucius Smith Lowe in North Wilkesboro, North Carolina and was named North Wilkesboro Hardware. Today Lowe’s is the second largest hardware chain in the US and in the world, just after their rival Home-depot. The headquarters of the company is in Mooresville, North Carolina, US. Let us know more about that the Lowe’s Termination Policy-Know More.
Lowe’s Termination Policy
Lowe’s Companies maintains a Code of Conduct which explicitly states what the company expects out of their employees. When an employee violates the Code of Conduct they might face disciplinary action which usually leads to termination. The reason for termination can also be due to poor performance. The termination policy of Lowe’s is called Employee Transition and is most often effective immediately. The company does not tolerate employees who are not willing to put all their efforts into the company and those who do something that is in direct violation of the Code of Conduct. These employees would be terminated and they can reapply after a gap of six months. While reapplying they can contact My Lowe’s Benefits to help them through the process.
Lowe’s Code of Conduct
Lowe’s Code of Conduct states specific rules and regulations which are divided into categories with separate subdivisions. This Code applies to all the employees of Lowe’s Companies, Inc. The rules are discussed under the headings, compliance with laws, regulations and internal policies and procedures, conflict of interest, fair dealing and fair competition, corporate opportunities and loyalty, confidential information and data privacy, social media policy, bribery and corruption, financial controls and reporting procedures, protection and proper use of company assets, public company reporting, insider trading, external communication, intellectual property, workplace safety, and associate relations. Each heading gives a detailed description of what the company expects out of its employees. When an employee is confused about a decision that they have to take, the Code advises that they should consult their supervisor to reach the right decision.
Waivers and Amendment of The Code
This Code can only be amended upon the recommendation of the Nominating and Governance Committee. The power to amend or modify the Code only lies with the Board of Directors. Any waivers to this Code may be granted only by the Board of Directors or the Nominating and Governance Committee.
Termination Policy and Process of Lowe’s
If an employee fails to comply with Lowe’s Code of Conduct it will result in disciplinary action that may include reprimand, forfeiture of a bonus, demotion or dismissal. If the employee violates both a Code that is also a violation of the Law, then they will face civil or criminal penalties. The Code also clearly states that an employee can be terminated due to reasons like repeated absenteeism, poor performance and if an employee is not following the company policy regarding drugs and alcohol. The company will only give one warning to an employee and if they commit the same offence twice, they will most likely be terminated.
The termination policy is named Employee Transition and it is presented to the employee during the period of separation. The termination process at Lowe’s is pretty simple, as if you are terminated you will be informed so by your manager and will need to complete the information given in the Employee Transition documents to settle your health insurance matters that include vision, dental, medical and life insurance. Being terminated doesn’t mean that the employee will lose medical insurance. The insurance will be transferred to Consolidated Omnibus Budget Reconciliation Act (COBRA) and the employee can choose whether they continue the insurance or not. In the case of the 401(k) plan, the terminated employee can choose to either take it in as a lump sum or distribute the plan to other employees. The terminated employee can also choose to either change the insurance into an individual life insurance plan or terminate the insurance.
Rehiring at Lowe’s
After termination, based on the reason for the termination an employee can reapply to work again at Lowe’s Companies. The rehiring will only occur depending on the reason for termination, only if is a small offence and based on the need for an employee for the company. The Code states that rehiring is done at the company so if it is a small offence, employees have a chance of getting rehired at Lowe’s. If an employee is terminated due to reasons like poor performance, giving no notice, or a violation of The Code of Conduct, it means that the chances of them getting rehired at the company are very very less.
But if an employee is terminated for any other reason they can get rehired at Lowe’s. If a terminated employee contacts their manager they would be able to know if they can reapply and when. But usually o reapply to Lowe’s a terminated employee will have to wait for almost six months.
- Where is the headquarters of Lowe’s Companies, Inc.?
Answer: The headquarters is in Mooresville, North Carolina, United States of America.
- When was Lowe’s Companies, Inc. founded and by whom?
Answer: Lowe’s Company was founded in 1921 by Lucius Smith Lowe.
Lowe’s Companies, Inc., has formulated an explicit Code of Conduct that clearly states all that they expect out of their employees. The Code discusses, in various sections, the rules and regulations that all employees of the company should follow. If any employee violates any of the rules or regulations they are likely to face disciplinary action. The disciplinary action includes reprimand, forfeiture of a bonus, demotion or dismissal or even legal consequences if necessary. The termination of an employee can also occur due to poor performance, repeated absenteeism and if they violate the strict policy that the company maintains regarding drugs and alcohol. If an employee is terminated for a small offence they can typically reapply after a period of six months. But if an employee is terminated for a bigger offence, that includes poor performance they are not eligible to reapply for work at Lowe’s Companies.
- How long should I wait to reapply at Lowe’s Companies, Inc.?
Answer: You should wait for at least six months.
- Who will inform me if I am terminated from Lowe’s Companies?
Answer: You will be informed by your manager or supervisor.