RIP Home Depot EXPO

[silverscreenselect]

Home Depot is closing its upscale EXPO stores and a number of other similar upscale locations and cutting about 7,000 jobs (2% of its total workforce). The 34 EXPO (including one in Atlanta) and eight related stores had about 5000 employees, while other layoffs, including a 10% reduction in the number of officers, account for the other 2000 jobs. Officers salary is also being frozen immediately, although other employees will still receive merit raises.

http://money.cnn.com/2009/01/26/news/co ... 2009012609

Upscale faucets and doorknobs aren't big selling items right now.

Also announcing layoffs/cutbacks today:

Pfizer - 8000 jobs (will eventually cut 15% of the combined Pfizer/Wyeth workforce)
GM - 2000 jobs
Caterpiller - 20000 jobs
Sprint - 8000 jobs
ING - 7000 jobs (I think most of these are overseas)

[BigDrawMan]

i wonder if they are still massively overpaying their ceo for their massively underperforming stock

[tanstaafl2]

Home Depot is closing its upscale EXPO stores and a number of other similar upscale locations and cutting about 7,000 jobs (2% of its total workforce). The 34 EXPO (including one in Atlanta) and eight related stores had about 5000 employees, while other layoffs, including a 10% reduction in the number of officers, account for the other 2000 jobs. Officers salary is also being frozen immediately, although other employees will still receive merit raises.

http://money.cnn.com/2009/01/26/news/co ... 2009012609

Upscale faucets and doorknobs aren't big selling items right now.

Also announcing layoffs/cutbacks today:

Pfizer - 8000 jobs (will eventually cut 15% of the combined Pfizer/Wyeth workforce)
GM - 2000 jobs
Caterpiller - 20000 jobs
Sprint - 8000 jobs
ING - 7000 jobs (I think most of these are overseas)

Shopped at the Expo a lot when we first bought our house a few years ago so I hate to see that go. Haven't shopped there much recently but that was because I didn't have a strong need, not because of the economy. But I did often wonder how it stayed in business. Never seemed to be a huge crowd there even during the "good" times.

May have to run by and see if there are any specials. I could use an upscale faucet or two at a downscale price...