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June 12, 2008
Office Depot said it is trying to reduce its 2,000-employee workforce at its Delray Beach headquarters through a voluntary separation program.
Brian Levine, a spokesman for the office supply retailer, said severance is being offered to salaried and hourly employees at the company's headquarters. He said Office Depot does not have a specific number of jobs targeted for elimination.
"With the economic environment that Office Depot and many other companies are facing, we believe it is imperative that we take prudent steps to cut expenses while we continue to manage the business for both growth and profitability," Levine said.
The company did not release details of the severance package.
Shares closed up 65 cents to $12.53. The 52-week high was $35.01 on June 15, 2007. The 52-week low was $10.60 on March 17.
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