Wednesday, December 10, 2008
Office Depot cutting 112 stores, 2,200 jobs
Office Depot Inc. will close about 9 percent of its North American stores and cut 2,200 jobs over the next three months while planning to open fewer locations next year in an effort to cut costs.
Shares of the office supply chain rose more than 12 percent after Wednesday's announcement.The company now plans to open 20 new stores next year, down from its earlier estimate of 40.
Office Depot will also close six of its 33 North American distribution centers as part of its long-term plan to combine its supply-chain systems.
I think in USA so many stores going to be close down.Let's see what happen next ?