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Home Depot to cut 7,000 jobs, close Expo Design Center
comments (0) January 26th, 2009 in Blogs
Richard Defendorf, contributor
1 user recommends
Home Depot announced today that it will trim 7,000 jobs and, during the next two months, close its 34 Expo Design Centers, five YardBIRDs stores, two Design Centers, and seven HD Bath stores.
The staff cuts will affect about 2% of the Atlanta-based company’s 300,000 workers and result in a $532 million pretax charge. The cuts also target 2,000 non-store jobs, including 500 workers in the company’s corporate headquarters, and a pay freeze for its officers. Employees at core Home Depot stores won't be affected.
"Exiting our Expo business is a difficult decision, particularly given the hard work and dedication of our associates in that business and the support of our loyal customers," Chairman and Chief Executive Frank Blake said in a statement. "At the same time, it is a necessary decision that will strengthen our core Home Depot business."
posted in: Blogs, business
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