Target eliminating 1,800 corporate jobs as it looks to reclaim its lost luster

"The cuts represent about 8% of Target's corporate workforce globally, although the majority of the affected employees work at the company's Minneapolis headquarters, the spokesperson said. Chief Operating Officer Michael Fiddelke, who is set to become Target's next CEO on Feb. 1, issued a note to personnel on Thursday announcing the downsizing. He said further details would come on Tuesday, and he asked employees at the Minneapolis offices to work from home next week."

""The truth is, the complexity we've created over time has been holding us back," Fiddelke, a 20-year Target veteran, wrote in his note. "Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life." Target, which has about 1,980 U.S. stores, lost ground to Walmart and Amazon in recent years as inflation caused shoppers to curtail their discretionary spending."

"Fiddelke said in August when he was announced as Target's next CEO that he would step into the role with three urgent priorities: reclaiming the company's position as a leader in selecting and displaying merchandise; improving the customer experience by making sure shelves are consistently stocked and stores are clean; and investing in technology. He cited the same goals in his message to employees, calling the layoffs a "necessary step in building the future of Target and enabling the progress and growth we all want""

Target is eliminating about 1,800 corporate positions, including roughly 1,000 expected layoffs and about 800 vacant roles, representing about 8% of its corporate workforce globally. The majority of affected employees are based at the Minneapolis headquarters. Chief Operating Officer Michael Fiddelke, who will become CEO on Feb. 1, notified personnel that further details will follow and asked Minneapolis office staff to work from home next week. Fiddelke cited organizational complexity and overlapping layers as factors slowing decisions. Target has lost ground to Walmart and Amazon amid inflation-driven cutbacks in discretionary spending and customer complaints about store conditions. Fiddelke prioritized merchandise selection and display, store experience, and technology investments.

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