Home Depot closes last seven major China stores

The move will affect some 850 employees, who the company said would be given severance packages and job placement help.

"Closing stores is always a difficult decision," said chief executive Frank Blake. "We are thankful for the dedicated service of our store associates in China, and we wish them all the best during this transition."

The company will maintain two specialty outlets -- a paint and flooring store and a home decorations shop -- in Tianjin, and said it would work with Chinese e-commerce sites to expand its online presence.

The company will continue to employ some 170 people in sourcing offices in Shanghai and Shenzhen, which opened in 2002, and in the specialty stores.

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