Home Depot Layoff News: 7000 job cuts
Today we have some updated news about Home Depot (NYSE:HD) layoffs and the closing of their Expo home design centers. Home Depot said that this area of business represents about 2 percent of their workforce (7000 jobs).
Home Depot Inc. also reported today that they would cut down on corporate support staff and freeze officer salaries to save money during the current economy.
The home improvement retailer said that the coming fiscal year will see a $1 billion cut in capital spending and 12 new stores open. Cutting in one area and developing in another is change needed to combat the current conditions.
Home Depot Inc. expects earnings per share to fall 24 percent and sales to decline 8 percent for its fiscal year ahead.
Home Depot Inc. also reported today that they would cut down on corporate support staff and freeze officer salaries to save money during the current economy.
The home improvement retailer said that the coming fiscal year will see a $1 billion cut in capital spending and 12 new stores open. Cutting in one area and developing in another is change needed to combat the current conditions.
Home Depot Inc. expects earnings per share to fall 24 percent and sales to decline 8 percent for its fiscal year ahead.
Labels: Home Depot, layoffs
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