Home Depot cutting 7,000 jobs

NEW YORK (CNNMoney.com) -- Home Depot, the No. 1 home improvement retailer, announced Monday that it is shutting down its high-end EXPO business and shrinking its support staff, with both moves resulting in a reduction of 7,000 jobs.

Home Depot (HD, Fortune 500) said the staff cuts impact 2% of its total workforce. The company said the the latest job cuts will not impact any customer service positions in its Home Depot stores.

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If people are still not thinking we are doing bad, they had better wake up. It seems as a new week comes about, we are told of yet another company either closing or reducing the work force.

If this kind of trend continues, I can see unempployment rates well over 10% by the summer.

I hope they cut the jobs with say, a nice Makita reciprocating saw or perhaps a DeWalt Table 10".