Monday, January 26, 2009

So Much for the Fall Back Plan

I actually said a while back that "There's always Home Depot."

CHICAGO —Home Depot, the nation's biggest home improvement retailer said Monday the cuts will affect about 2 percent of its 300,000 workers and cause the Atlanta-based chain to record a $532 million pretax charge, mostly in the current fourth quarter, which ends Feb. 1.

Most of the cuts affect workers at Expo Design Centers, YardBIRDS, Design Centers and HD Bath, a bath remodeling business. Combined, the four operate about four dozen locations.

Those chains' stores will close in the next two months. Liquidation sales are set to begin Tuesday morning, executives said.

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