Home Depot to lay off 10 percent of headquarters staff

-- Industrial Distribution, 1/31/2008 1:39:00 PM

Home Depot said it will lay off 10 percent of its Atlanta headquarters staff, according to a report in the Atlanta Journal-Constitution.

About 500 of the company’s 5,000 headquarters staff were told that they would be let go as part of the company’s response to the slowdown in the homebuilding market and a slowing of the overall economy.

“We have been pretty clear that we are operating in a tough business environment,” corporate spokesman Ron DeFeo told the newspaper. “We see that continuing in 2008.”

The report also said Home Depot has made no significant job cuts at headquarters since shedding 300 jobs in the summer of 2006. Those departing this time around will be gone by the end of the week, DeFeo said, and will be paid for the next 60 days.

DeFeo added that no reductions are planned at any of the company’s 2,200 stores.

The news comes on the heels of similar reports in the distribution sector. Former Home Depot division HD Supply has closed 10 branches in recent months, and building materials giant Wolseley plc has cut 3,000 jobs in North America since Aug. 1.