"Target will lay off 1,000 corporate employees and close 800 open roles affecting roughly 8% of its global corporate workforce the company said Thursday. The layoffs and changes set the course for our company to be stronger, faster and better positioned for the future, incoming Target CEO Michael Fiddelke said in an email to employees. Fiddelke will take over from veteran CEO Brian Cornell next year, the company announced in August."
"The layoffs, which come ahead of the critical holiday shopping season, are the latest sign of struggles at the Minneapolis-based company. It has been been reeling from slumping sales and fierce blowback to its retreat on DEI programs. Its decision to end some of those initiatives angered supporters of diversity and inclusion policies, who felt blindsided. Target had staked out a reputation as a strong corporate supporter of DEI. Target said its move weighed on sales, which have fallen for three straight quarters."
Target will lay off 1,000 corporate employees and close 800 open roles, impacting roughly 8% of its global corporate workforce. Incoming CEO Michael Fiddelke framed the moves as positioning the company to be stronger, faster and better prepared, and will assume leadership next year. The reductions arrive before the holiday season amid slumping sales, backlash over rolling back DEI programs, and intensified competition from Walmart, Amazon and Costco. Customers are buying fewer home goods and clothing. Target's stock has fallen about 30% in 2025, and the company says the restructuring aims to rewire decision-making speed rather than primarily cut costs.
Read at www.mercurynews.com
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