Home Depot is closing its Expo stores and cutting 7,000 jobs! Home Depot layouts for 2009 will include closing all Expo store locations.

Home Depot Expo had wonderful quality and ridiculous prices. LALATE loves Home Depot but Expo was an illogically overpriced store.

34 Expo stores will be closed, and officers salaries are frozen. Reports say Home Depot earnings will be down 24% in 2008.

“We’re very fortunate that the soundness of our company lets us live our value of taking care of our people, even in this time of unprecedented economic hardship,” said Frank Blake, chairman and CEO, in a statement today.

“These changes will make us a stronger company and will allow us to continue to grow associate employment over the long term to benefit our customers.”