Home Depot, the largest company by both revenue and employees based in Georgia, has acknowledged making some job cuts, but won’t say how many or where they were.
The home improvement giant continues to be upbeat about demand this year for its products and services, but has “reorganized some teams to better support our long-term priorities,” an action that included “a very small number” of jobs, according to Beth Marlowe, a spokeswoman for the company.
The company has about 470,000 employees, including more than 34,000 in Georgia.
Marlowe declined to say how many positions have been cut or where those jobs were. However, she said the layoffs included only “non-store roles,” which could mean many things, including corporate jobs, sales, marketing, public relations or distribution.
Those who were laid off received “separation packages, transitional benefits and job placement support,” she said.
At the end of the third fiscal quarter, the company had 2,333 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico.
In that quarter, Home Depot reported sales of $37.7 billion and net earnings of $4.3 billion. Officials said then that they expected sales to dip between 3% and 4% during the coming year.
Home Depot stock closed the day’s trading Tuesday at $357.10 a share, not far from its 12-month high of $362.41 reached earlier in January. Home Depot shares have risen steadily since hitting a low of $276 a share in October.
The company’s all-time high was about $415 a share in late 2021, following a massive surge of pandemic-spurred sales.
The company is slated to release earnings results on Feb. 20 for the fourth fiscal quarter, which ends Wednesday.
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