Redirect to Homepage After Logout in WordPress

When a user logs out, WordPress by default sends them back to the login page (wp-login.php). In many cases it makes more sense to redirect them to the site homepage. Here is a snippet that does that:

add_action('wp_logout', function()
{
    wp_redirect(get_home_url());
    exit;
});

For more on redirects and SEO, see 301 Redirects and Their SEO Importance.