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.
After leaving StubHub to join Fandom in 2019, Miller oversaw the company's $50 million acquisition of a number of entertainment content platforms from Red Ventures including TV Guide, Metacritic, GameSpot, and Giant Bomb. At the time, Miller said that the deal was meant to "expand our business capabilities and provide immersive content for our partners, advertisers and fans." The deal also led to multiple rounds of layoffs for the editorial staff at some of Fandom's newly-acquired properties.
Some experiences in life simply can't be prepared for. You can imagine how you might feel and what you might do, but you can never actually know how you will respond in a situation until it happens. Falling in love, becoming a parent, and facing one's mortality all fit into this category. In the workplace, your first interview, first day on the job, and the first time you're given the responsibility of managing others fall into this category.
"Greg Abel is an operator at heart - he'll engage more directly with underperforming subsidiaries, unlike Buffett, who was famously hands-off. Berkshire will become known for 'intelligent autonomy.'"
When Mackey sold the business to Amazon in 2017, he committed to staying on for five years. Over time, however, struggles with the retail behemoth around culture took a toll, Mackey said.
I'm incredibly proud of what we've built together - and even more excited for what's ahead. I'll be transitioning to a new role as board member and advisor, and continuing to support Discord through this next chapter.
