Home Depot lays off 800 staff, mainly in technology

Home Depot is laying off 800 employees (around 0.2% of its total workforce), primarily in the technology department and other corporate areas; around 150 of them at the Atlanta headquarters. At the same time, CEO Ted Decker is ordering a return to the office 5 days a week starting the week of 6 April. Reason: simplifying business processes, strengthening collaboration, increasing speed and agility. Context: a slowdown in demand after the Covid boom, a drop in revenue due to higher mortgage rates and economic uncertainty. Expectation for FY 2025: around +3% revenue. The stock is down 10% over the past year, up 9% this year. The company missed Wall Street's profit expectations in the last three quarters.