The Home Depot announced today it plans to lay off about 7,000 employees, or about 2 percent of its workforce, and shutter its Expo design centers, including two stores in San Diego County.
The local Expo stores slated to close are located in Encinitas, at 1550 Leucadia Blvd., and San Diego, 7803 Othello Ave., according to The Home Depot.
Over the next two months, the home improvement retail giant plans to shutter 34 Expo centers, five YardBirds stores, two Design Center stores and its bath remodeling business known as HD Bath.
According to The Home Depot, its Expo business has not performed well financially as the demand for big-ticket design and decor projects has declined amid the downturn in the economy.
The Atlanta-based company also announced that it is initiating a salary freeze for all of its executives.