Home Depot lays off 800 workers, announces 5 day return to office
CNBC • • business
Key Points:
- Home Depot announced layoffs of 800 workers, primarily from its technology and corporate teams, with about 150 employees based at its Atlanta headquarters affected.
- CEO Ted Decker mandated a return to a five-day in-office workweek starting the week of April 6, aiming to improve company speed, agility, and in-person collaboration.
- The changes are intended to simplify operations and enhance support for store and field associates amid weaker-than-expected sales and ongoing economic challenges.
- Home Depot has experienced slower demand due to higher mortgage rates and economic uncertainty, missing Wall Street earnings expectations for three consecutive quarters.
- Despite a roughly 10% decline in shares over the past year, Home Depot's stock has gained about 9% this
