"A spokesperson also confirmed that 800 workers would soon be laid off, including 150 from the headquarters in Atlanta, Georgia. The rest are comprised of remote workers. In a statement, Decker explained that the decisions were necessary for the future of The Home Depot. He said: "To extend our industry-leading position, we must position the company to move faster and stay even more closely connected to our customers and frontline associates. "We're simplifying our corporate operations to better support our stores and our customers.""
"Decker added on the office policy: "In-person engagement enables more meaningful support for store and field associates, drives results and reinforces our people-centric culture and inverted pyramid." The Home Depot has faced financial difficulty recently, which executives have attributed to higher mortgage rates and consumer uncertainty. The company missed Wall Street's expectations for the third quarter in a row when it published its financial records in November."
Home Depot will require corporate employees to work in the office five days a week starting April 6, eliminating remote work during the week. The company will lay off about 800 workers, including 150 at the Atlanta headquarters; the remainder are remote employees. Affected workers will receive separation packages, transitional benefits, and job placement support. The return-to-office and simplification of corporate operations are intended to increase speed, agility, and closer connection to customers and frontline associates to better support stores. The company has faced financial pressure from higher mortgage rates and consumer uncertainty and missed Wall Street expectations for three consecutive quarters. Expected 2025 results are projected to rise about 3% with positive comparable sales.
Read at The US Sun
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