Home Depot Cutting 500 Jobs at Headquarters

Atlanta, GA, February 1, 2008--Home Depot said it will lay off about 10 percent of its employees at its corporate headquarters.

Roughly 500 of the 5,000 employees have been told that they will be let go because of the national slowdown in the housing industry and the economy.

"We have been pretty clear that we are operating in a tough business environment," said corporate spokesman Ron DeFeo. "We see that continuing in 2008."

Home Depot’s last significant layoff at headquarters came in 2006 when 300 people lost their jobs.

Home Depot is the nation’s largest home improvement retailer and is a significant force in the flooring industry.

The company boomed along with the housing market and has suffered along with it as well.

In November, Home Depot reported a 27 percent drop in third-quarter earnings.