Home Depot to cut 7,000 jobs, close Expo chain

ATLANTA (AP) - Home Depot Inc. says it's cutting 7,000 jobs and
closing its smaller Expo chain as the recession continues to batter
the nation's housing market.

The nation's largest home improvement retailer says the cuts
announced today will affect about 2 percent of its work force.

Under the plan, the Atlanta-based retailer will close its 34
Expo Design Centers, five YardBIRDS stores, two Design Center
stores and a bath remodeling business that has seven locations.
Those stores will close in the next two months.

Its core Home Depot stores won't be affected.

The company also plans to shed 2,000 non-store jobs and freeze
the pay of its officers.

Home Depot will record a $532 million pretax charge in the
fourth quarter related to the closures and layoffs.

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