Office Depot Layoffs Job Cut: fires 2200 employees, closes 112 Stores

Office Depot has decided to go for massive layoffs - around 2200 employees may be fired by the company. Not only that, around 112 stores have identified, which will be closed down by the company chain.

How many employees will be fired in the Office Depot Layoffs
Around 2200 employees will be fired from the Office Depot.

How many stores will be shut down closed by Office Depot?
Around 112 stores will be closed; that will be 9% of all the stores in USA, while the total no. of stores will come to 1163 .

When will the Office Depot Layoffs happen?
The job cuts will be made in the next 3 months.

What are the primary reasons for Office Depot Layoffs
Main reason is cost-cutting, due to the recent financial turmoil, reduction in demand and all related matters.

Which locations will the Office Depot stores be closed?
It plans to close 45 stores in the Central U.S., 40 in the Northeast and Canada, 19 in the West and 8 in the South.
Also, 6 of the 33 North American distribution facilities will be closed.
Other 14 stores will be closed next year and only 20 new sites will be opened - that's 50% of the planned expansion.

What are the financial results of Office Depot Layoffs
The retailer had a bad third-quarter - loss due to slumping sales as consumers and small businesses cut back spending in October.
Office Depot shares, which have tumbled more than 82 percent since the beginning of the year, climbed 22 cents to $2.65 Wednesday
Let's hope that alternative jobs are available to the affected employees of Office Depot Layoffs Job Cut