"On Thursday, Target announced that it would be eliminating 1800 corporate jobs. The cuts include 1000 layoffs of active roles and 800 open roles. Managers are expected to be affected at 3x the rate as employees, but no jobs in stores or the supply chain will be affected. This amounts to 8% of the company's global HQ force, with 80% expected to be from the headquarters in Minneapolis."
"Team members at the US HQ were instructed to work from home this week, as the changes will be announced on Tuesday. Those affected will receive pay and benefits until January 3, 2026, as well as severance packages and other services and support. The layoffs represent the largest round at the company in a decade, as Target has struggled with flat or declining sales in 9 out of the past 11 quarters."
"These changes come as the company is undergoing a CEO transition. Michael Fiddelke, the current COO of Target, is a 20-year veteran set to take the role in February. Fiddelke has overseen the Enterprise Acceleration Office over the last year, which looks for ways to simplify company operations using technology in new ways and to speed up Target's growth."
Target will eliminate 1,800 corporate headquarters roles, including 1,000 active layoffs and 800 open positions. Managers are expected to be affected at three times the rate of other employees. The cuts equal roughly 8% of the global HQ workforce, with about 80% coming from Minneapolis. US HQ staff were told to work from home ahead of an announcement, and affected team members will keep pay and benefits until January 3, 2026, plus severance and support. The reductions follow prolonged sales weakness, customer complaints about store conditions, inventory and brand issues, and come during a CEO transition to Michael Fiddelke, who plans to simplify operations and invest in tech.
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