economic forecasting center at georgia state university
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Home Depot is one of the nation's largest retailers, specializing in home-building supplies and material for do-it-yourselfers. Corporate-wide, Home Depot has approximately 350,000 employees.
We started the year with a more pessimistic view of the housing and home improvement markets than many," he told financial analysts on a conference call. "It turns out we were not pessimistic enough.
The Home Depot cuts are troubling, but after months of woes in home-building and sales, the pain was relatively predictable, said Rajeev Dhawan, director of the Economic Forecasting Center at Georgia State University. "This is the first major layoff we have seen from a big Atlanta employer," he said. "But it's still related to the housing market."
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