Home Depot has announced layoffs of about 500 employees at its Atlanta-based headquarters -- 10 percent of the staff there, according to the company.
The reductions were from departments “across the organization and touching every functional area,” Home Depot spokesperson Ron DeFeo told HCN.
“We’re clearly operating in a tough business environment,” DeFeo said. “We started talking about that in 2007, and we were very honest in saying we expected to see this continuing into 2008 (in recent financial statements). We have a firm commitment in investing in our stores. In order to do that, we need to make some changes.”
The layoffs were only at the company’s headquarters and do not affect distribution centers or stores. The laid-off workers will receive pay for 60 days, the company said.