Home Depot announced it will lay off 800 workers and require corporate employees to return to the office five days a week to increase speed and agility. Around 150 employees were based in Atlanta, with the rest in remote jobs, mainly in the technology organization. The changes will start the week of April 6.

CEO Ted Decker stated that the in-office policy is essential to simplify business and focus on priorities. Home Depot’s sales have been weaker than expected due to lower demand post-pandemic, attributed to higher mortgage rates and economic uncertainty. The company missed Wall Street’s earnings expectations for the third straight quarter.

Despite weaker sales, Home Depot expects a 3% rise in full-year fiscal 2025 sales and slightly positive comparable sales. Shares have fallen 10% over the past year but are up 9% this year, outperforming the S&P 500. The company will report its fiscal fourth-quarter earnings on February 24.

Read more at CNBC: Home Depot lays off 800 workers, announces 5 day return to office