Home Depot one of America’s largest retailers with previous year sales reported in the 100 Billion Dollar range has had to make a unprecedented response to the economy and close two of its under performing stores.
The cost to the company from the failing housing and remodeling market has been added to by rising fuel costs in both it’s distribution network and costs felt by consumers that have delayed purchases to offset the cost at the pump.
This is a first in the history of the company to not only reduce store openings but close stores. This news comes after events last summer which lead to the sale of it’s retail warehouse supply division.
The closing will effect an estimated 1,300 workers on top of over 2,000 employees cut this year. Home Depot employs over 300,000 people world wide.
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