US EditionTarget cuts 1,800 corporate jobs in its first major layoffs in a decade
- On Thursday, Target announced it is cutting about 1,800 corporate jobs, including roughly 1,000 layoffs and 800 unfilled roles, in a memo from incoming CEO Michael Fiddelke to Target headquarters.
- This year, Target has faced a sales slump and expects declines, while executives said accumulated complexity and too many layers slowed decisions, prompting Enterprise Acceleration Office efforts.
- On Tuesday, affected employees will be notified and will receive pay and benefits until January 3, while no roles in Target stores or supply chain were impacted.
- The cuts amount to roughly an 8% reduction to Target corporate workforce, with Michael Fiddelke saying the changes are necessary to help Target move with urgency.
- The move comes as the company nears a leadership transition after naming Michael Fiddelke, incoming CEO, amid Target shares falling about 65% since late 2021.
166 Articles
166 Articles
Target To Slash 1,800 Jobs In Major Shake-Up, Reports Say - Target (NYSE:TGT), Amazon.com (NASDAQ:AMZN)
Target Corporation (NYSE:TGT) plans to cut around 1,800 corporate roles as the retailer looks to get back to growth, according to several media reports citing an internal memo sent on Thursday. Job Cuts Amid ‘Complexity’ It marks the first major round of layoffs in a decade for the Minneapolis-based retailer. Incoming CEO Michael Fiddelke, in an internal memo to employees at its headquarters, said the company will be laying off roughly 1,000 glo…
Target to cut 1,800 corporate roles in first major layoff in a decade
The move, unveiled by incoming CEO Michael Fiddelke in memo to employees on Thursday, comes at a time its share price has lagged rivals and the company has faced backlash for pulling back from its diversity, equity, and inclusion policies
Target to eliminate 1,800 corporate jobs as brand aims to rebuild
Target said Thursday it’s planning to eliminate about 1,800 corporate positions in an effort to streamline decision-making and accelerate initiatives to rebuild the flagging discount retailer’s customer base. About 1,000 employees are expected to receive layoff notices next week, and the company also plans to close about 800 vacant jobs, according to a company spokesperson. The cuts represent about 8% of Target’s corporate workforce globally, al…
New York, Oct 23 (EFE).- The U.S. supermarket chain Target, one of the most popular in the country, announced Thursday that it plans 1,000 layoffs and eliminates 800 vacant positions to reduce its global corporate workforce by 8% and “simplify” its business structure. Target’s executive director, Michael Fiddelke, told employees in an internal mail that the company’s “complexity” prevents it from progressing and the “too many layers and work tha…
Target will fire 1,000 corporate employees and close 800 open vacancies—affecting about 8% of its global corporate workforce—the company said Thursday.
Coverage Details
Bias Distribution
- 69% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
