Home Depot, one of the largest retailers in home improvement products, announced Monday that it is shutting down its high-end decor EXPO business and decreasing its support staff, resulting in a total reduction of 7,000 jobs, around a two per cent reduction of its workforce.

“Exiting our EXPO business is a difficult decision, particularly given the hard work and dedication of our associates in that business and the support of our loyal customers,” said Frank Blake, Chairman and CEO. “At the same time, it is a necessary decision that will strengthen our core Home Depot business.”

The announcement comes as the company gets a grip of slowing demand due to the housing crunch and the general economic downturn.

About Home Depot

The Home Depot is the world’s largest home improvement specialty retailer, with 2,274 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico and China. In fiscal 2007, The Home Depot had sales of $77.3 billion and earnings from continuing operations of $4.2 billion. The Company employs more than 300,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index. HDG