Office Depot Cuts

Office Depot has announced that it is closing 112 'under-performing' retail stores in the USA and a further 12 stores will be closed in 2009 as their leases expire. New store openings for 2009 have been cut in half, down from 40 to 20. Office Depot also plans to close 6 of its 33 distribution centres in the USA.

About 30 per cent of Office Depot's revenues come from outside the USA, so perhaps we will soon hear of further cuts elsewhere in the world...