Home Depot Makes Major Job Cuts at Its Atlanta Headquarters

Atlanta–Home Depot–one of the nation’s largest retailers, specializing in homebuilding supplies–announced a 10 percent layoff Thursday at its Atlanta headquarters, according to the Atlanta Journal-Constitution.Approximately 500 of the company’s 5,000 employees were told they would lose their jobs as the result of the national housing decline and slowing economic growth. Home Depot did not specify which jobs were being eliminated.Corporate spokesman Ron DeFeo said the employees given notice Thursday will be gone by the end of the week. Home Depot hasn’t made any large job reductions at its main location since 2006. In November, Home Depot posted a 27 percent third quarter earnings decline. “We started the year with a more pessimistic view of the housing and home improvement markets than many,” Chairman and Chief Executive Frank Blake said in fall. “It turns out we were not pessimistic enough.”In December, Home Depot said it planned to close three call centers and lay off 950 employees in Tampa, Chicago and Dallas.Home Depot, the fifth-largest employer in metropolitan Atlanta, has a total of about 350,000 employees, according to the Journal-Constitution.