Target has announced that it will eliminate 1,800 corporate jobs as part of a wide-ranging effort to streamline operations and revive growth after four years of flat sales. The decision marks the retailer's first significant round of layoffs in a decade and comes as the company prepares for a leadership transition at the top.
In a memo to staff, incoming chief executive Michael Fiddelke confirmed that the cuts represent around eight per cent of Target's corporate workforce. About 1,000 employees will be laid off, while another 800 positions will remain unfilled. Workers affected by the restructuring will be informed next Tuesday.
