Home Depot is dealing with slower sales as fewer Americans buy houses.
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Home Depot
on Wednesday laid off 800 workers and said corporate employees will have to return to the office five days per week.
In a message to employees, CEO Ted Decker said the changes are intended to increase the company’s “speed and agility.”
“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,” he wrote in the memo.
Home Depot beat fourth-quarter earnings expectations after missing estimates the prior three quarters.
Home Depot has tried to attract more business from contractors, roofers and other professionals during a slower housing market.
Home Depot and Stellantis are the latest major companies to mandate a five-day return-to-office schedule.
CFO Richard McPhail said Home Depot continues to see the effects of a "deferral mindset" from homeowners, which began in roughly…
For some imported goods, tariff rates are significantly higher today than they were at this time last quarter, according to Home…
The decision marks the company's first major job cuts in a decade.
