HD Supply to Cut 350 Employees and Consolidate 25 Branches
HD Supply, Atlanta, reported a 27-percent drop in sales and a $257-million loss during its fiscal third quarter. According to information released to the Securities Exchange Commission on Dec. 15, HD Supply plans to consolidate 25 branch locations and cut 350 employees. HD Supply said in that document that it expects to spend approximately $45 million in a restructuring plan to completed by the end of the first half of fiscal 2010. www.bizjournals.com article
About the Author
Jim Lucy Blog
Chief Editor
Jim Lucy has been wandering through the electrical market for more than 30 years, most of the time as an editor for Electrical Wholesaling, Electrical Marketing newsletter and CEE News. During that time he and the editorial team for the publications have won numerous national awards for their coverage of the electrical business. He showed an early interest in electricity, when as a youth he had an idea for a hot dog cooker. Unfortunately, the first crude prototype malfunctioned and the arc nearly blew him out of his parents' basement. Before becoming an editor for Electrical Wholesaling magazine and Electrical Marketing, he earned a BA degree in journalism and a MA in communications from Glassboro State College, Glassboro, NJ., which is formerly best known as the site of the 1967 summit meeting between President Lyndon Johnson and Russian Premier Aleksei Nikolayevich Kosygin, and now best known as the New Jersey state college that changed its name in 1992 to Rowan University because of a generous $100 million donation by N.J. zillionaire industrialist Henry Rowan. Jim is a Brooklyn-born Jersey Guy happily transplanted in the fertile plains of Kansas for the past 20 years.