Home Depot will close 34 “Expo Design Center” stores as the demand for massively overpriced toilets and light fixtures appears to be waning. Actually, never mind… Home Depot says that Expo was always a failure. “Even during the recent housing boom, it was not a strong business,” they said.
Over the next two months, the company will close 34 Expo Design Center stores, five YardBIRDS stores, two Design Center stores and a bath remodeling business known as HD Bath, with seven locations. All told, that will result in the loss of about 5,000 jobs.
“Streamlining” some support functions will cost another 2,000 positions for a total of about 2% of the company’s workforce.
Home Depot to close Expo, slash jobs [MarketWatch]