Home Depot Cuts 800 Jobs and Mandates Office Return
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: seekingalpha
- Layoff Announcement: Home Depot revealed plans to cut approximately 800 jobs, primarily at its Atlanta support center, aiming to enhance agility and improve connections with frontline associates.
- Remote Work Impact: The layoffs predominantly affect remote positions, with only 150 employees required to report to store offices, indicating a significant restructuring of the support center.
- Return-to-Office Mandate: The company mandates that remaining employees return to the office five days a week starting April 6, a policy intended to strengthen teamwork and communication efficiency.
- Employee Support Initiatives: Laid-off employees will receive separation packages, transitional benefits, and job placement support, reflecting the company's commitment to employee welfare and responsibility.
Analyst Views on HD
Wall Street analysts forecast HD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HD is 401.47 USD with a low forecast of 320.00 USD and a high forecast of 441.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
23 Analyst Rating
17 Buy
5 Hold
1 Sell
Moderate Buy
Current: 380.360
Low
320.00
Averages
401.47
High
441.00
Current: 380.360
Low
320.00
Averages
401.47
High
441.00
About HD
The Home Depot, Inc. is a home improvement specialty retailer. The Company offers an assortment of building materials, home improvement products, lawn and garden products, decor products, and facilities maintenance, repair, and operations products, in stores and online. It also provides various services, including home improvement installation services, and tool and equipment rental. The Company operates approximately 2,353 retail stores, over 800 branches and more than 325 distribution centers that directly fulfill customer orders across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. Its stores average approximately 105,000 square feet of enclosed space, with approximately 24,000 additional square feet of outside garden area. The Company serves two primary customer groups, including both do-it-yourself (DIY) and Do-It-For-Me (DIFM) customers and Professional Customers (Pros).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
