The Mooresville, N.C., chain's action affects two groups of employees: maintenance staff and assemblers who put together products, the employees told the paper.
The employees said they'd be able to reapply for open positions but aren't guaranteed the same hourly wage.
In late May Lowe's employed 300,000 people, of whom 190,000 were full-time and 110,000 part-time. The company operated 2,200 stores in the U.S., Canada and Mexico.
Lowe's reported weaker-than-expected fiscal-first-quarter earnings and cut its fiscal 2020 outlook.