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Home Depot ends program supporting Olympians

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Home Depot (NYSE: HD) is ending its 16-year old program that supported U.S. Olympians.

The Olympic Jobs Opportunities program provided part-time work, flexible hours and full-time benefits to 600 athletes who went on to win 145 medals. Spokeswoman Jean Neimi told (subscription required) The Wall Street Journal that "At this economic time, we are looking more closely at all our programs and marketing sponsorships. . . This is being done with some sadness."

The program cost the company about $15 million to $20 million over four years, but seems to have been a successful marketing tool, and the Olympians were featured prominently in Home Depot ads.

This seems like a budget cut that comes at the expense of some pretty bad publicity, and it suggests that Home Depot is doing even worse than most people are already anticipating.

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Last updated: November 25, 2009: 07:43 AM

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