"As part of a larger shift to Target's global headquarters structure, the retailer will lay off about 1,000 corporate staff and close 800 open roles, per details the company shared with sister site Retail Dive. This represents about 8% of its global headquarters workforce, and specifics about those impacted will be shared with employees on Tuesday. No store or supply chain roles are part of the cuts, a company spokesperson said."
""This spring, we launched our enterprise acceleration efforts with a clear ambition: to move faster and simplify how we work to drive Target's next chapter of growth," Target COO and incoming CEO Michael Fiddelke said in a note to employees Thursday. "The truth is, the complexity we've created over time has been holding us back. Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life ... [I]t's a necessary step in building the future of Target and enabling the progress and growth we all want to see.""
Target will lay off about 1,000 corporate employees and eliminate 800 open corporate roles, reducing its global headquarters workforce by roughly 8%. No store or supply chain roles are included. Leader-based positions will be impacted at about three times the rate of individual contributors. Impacted employees will receive pay and benefits through Jan. 3 and will also receive severance packages. Many corporate employees are being asked to work from home next week in relation to the announcement. Leadership frames the changes as enterprise-acceleration efforts intended to simplify operations and speed decision-making rather than as a cost-cutting move.
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