7,000 Americans jobless after more layoffs!
Home Depot closes EXPO retail sites leaving 7,000 workers without jobs. – JusticeNewsFlash.com top stories for New York employment rights lawyers
New York, NY (JusticeNewsFlash.com)–Home Depot, the nation’s number one home improvement store, announced the closure of 34 EXPO Design Center stores. The closure of this division of Home Depot, over the next two months, will leave 7,000 employees without a job.
As reported in CNN Money, the company claims EXPO has been under performing. EXPO Design Center’s targeted customers needing custom design, high-end home upgrades and big ticket decor projects. According to company executives, 5,000 workers for the high-end retail side of Home Depot and up to 2,000 support staff employees, will lose their jobs. The number one home improvement retailer also stated EXPO hadn’t done very well during the recent housing boom. With the current faltering housing market, the massive economic slump in consumer spending, and lack of home remodeling sales retailers, like Home Depot, Lowe’s and other home improvement stores, may continue to suffer.
Home Depot also announced on Monday a salary freeze for all officers and is expecting to report an 8% sales drop for the year by the end of this month.