"On Thursday, Target's chief operating officer, Michael Fiddelke, who is set to become the company's new CEO in February, reportedly sent a memo to employees at the 440,000-strong company. According to numerous media reports, Fiddelke's memo didn't beat around the bush: the company has decided to eliminate 1,800 positions. Yet the layoffs will not hit the majority of the company's workforce. Much of its 440,000 employees work as retail members across its nearly 2,000 stores in the United States."
"In his memo sent to Target staff, Fiddelke said the elimination of 1,800 corporate roles represents a reduction of "about 8% of our global HQ team." Fiddelke's memo included the usual platitudes that company leadership makes when laying off employees, noting the "real impact" that the layoffs will have on Target's team and that the company never makes such moves "lightly.""
Target will cut 1,800 corporate positions, representing roughly 8% of its global headquarters team. The reductions include about 1,000 direct layoffs and roughly 800 roles that will no longer be filled. The cuts focus on corporate staff and are not expected to affect retail employees across nearly 2,000 U.S. stores, who will be relied upon during the holiday period. Michael Fiddelke, current chief operating officer and incoming CEO in February, communicated the decision and described the reductions as necessary for future growth while acknowledging the real impact on affected team members.
Read at Fast Company
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