Thread regarding Home Depot Inc. layoffs

Expo Layoffs (Home Depot)

Being a well-known retailer of home improvement and construction products, Home Depot, while enjoying a large customer market share, had to opt for a major employee layoff in 2009. We planned to lay off 7000 employees in the year, with our intention being to close down our smaller home improvement brands.

The market was the victim of a serious crisis, as the recession still continued to have a major negative impact on the housing market of the country. With our shares mounting by 5% in the morning trading segment, we opted for a job cut decision.

The planned layoff was calculated to affect 2% of the workforce hired by us. With 300, 000 employees as per staff records, we were subject to a pretax charge of $532 million by the end of the fourth quarter for the company.

The employees who were laid off mostly worked in the Expo Design Centers, HD baths, YardBIRDS, bath remodeling, and design centers. In combination, these 4 centers had a record of operating about 4 dozen locations each.

Expo never performed financially well, and even during the major housing boom, it failed to reach our set financial goals. Frank Blake, who was our Chairman, shared the financial condition of Expo, and said that in the mounting pressure of the market economy, it was not possible to let Expo continue any longer. Even our most positive aspirations about the performance of Expo in the near future would not have helped us meet our financial goals, which necessitated the closure of the center.

We had no intentions of closing down any of our core stores or downsizing anymore later in the year. We had a clear idea that we had the right number of personnel as per our resources and goals, according to the overall size of our business.

Our layoff included the job cuts of 2000 employees in our non store job segment, which also included the 500 workers who were then employed in corporate headquarters. The salary of the officers was also set to a freeze.

Overall, the 7000 layoffs were done to align the different company segments for better performance and to ensure profit generation from every quarter.

by | Post ID:
1349 views | 1 reply ()
Comment! It's anonymous! Reply to this post anonymously by submitting the form near the bottom of the page!

1 reply

This is old news from 2009, no reports on layoffs at Home Depot in 2015, doing much better now.

by | Post ID:

Post a reply


Related pages

citrix indiawhat sears locations are closingaci paymentsalliance healthcare holly springs mssiebel oracle supportwalmart hillsboro oregon hoursapple store in northridge mallernst and young nyctrovagene message boardunited technologies 10kisecgqualcomm san diego campus mapcabelas post falls idsears repair statusstryker corporation layoffsnorbert grantlayoffs bank of americagogo tickernordstrom in south coast plazacollabera bangalore contact numbermerck jobs pacognizant associate salary in usasemgroup energy partners lphobby lobby stores closingchk stock message boardge layoffsrural metro scottsdalechk layoffcognizant india jobswhole foods in jackson mswww.scientificgames.comameriprise 401kjut incjpmorgan chase houston txtd ameritrade executiveskimray comapple store in briarwoodsafeway corp officege oil and gas aberdeenwyckoff hospital nycjourneys oglethorpe mallhumana careerexxonmobil woodlandsboise idaho cabela'sstaples locations hourssupport viggle comboeing seal beach casear corporate officedana maumeebankofamerica.cpofficemax charlotteqvc layoffschevron san ramon officeuhg salarybankofameica.comjuniper layoffvzw hourskmat jobshow much does walgreens pay pharmacy technicianspenn west layoffscablevision hiringkkr academy sportssears ge partsjobs cablevisionwhere is devry locatedihs publishingmacy's employee insitestrayer university glassdoorpolo ralph lauren employmentgannett mcleanapple store philadelphia walnut streettechnicolor ontario canetapp cranberrytarget sweatshopscsc stands for