The Washington Post reports on Home Depot’s layoffs and Home Depot Expo store closings:
Home Depot Inc
The world’s largest home improvement retailer also said on Monday it was freezing the salaries of all officers as it looks to save money in a prolonged retail slump.
Home Depot opened the Expo stand-alone stores 1991. But even during the most recent housing boom, it was not a strong business and has weakened significantly as demand waned for high-priced home improvement projects, the company said.
“We see the announcements as largely positive,” Stifel Nicolaus analyst David Schick said in a research note, adding that it made no sense for Home Depot to stick with the Expo business, hoping for long-term growth even as it trims its main operations.
I can think of 7,000 people off the top of my head who don’t see the announcement as positive.
As and Atlanta native, it pains me to hear this news. Home Depot was always a place you could go get a “stepping stone” or “rebound” job.
I hope Arthur Blank doesn’t have to cut too many jobs in the Falcons org. We made it to the playoffs this year!
I can,t belive Home depot is laying people off they should be doing great,Ever One I know goes there to buy there home repairs,applanince and building product,flooring .Cant beleave they would let the public down.Whats their problem ,they allways seem busy when I go there.If they other place start laying off then we should find some other place to buy our goods.