By Nathaniel Meyersohn | CNN
NEW YORK — 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.
Economic conditions and competition from Walmart, Amazon and Costco have also taken a toll on Target.
Customers have shifted their buying patterns, purchasing less of the company’s home goods and clothing.
The company’s (TGT) stock has dropped 30% in 2025, putting it among the worst-performing companies in the S&P 500 this year.
A Target spokesperson said the company did not lay off employees to cut costs. Instead, it was a step to rewire its organization to make decisions more swiftly.
Related Posts:
- Target to lay off about 1,000 workers ahead of holiday shopping season Uncategorized By Nathaniel Meyersohn | CNN NEW YORK — 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…
- Target to lay off about 1,000 workers ahead of holiday shopping season News By Nathaniel Meyersohn | CNN NEW YORK — 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…
- Falcons 14.5-Sack Edge Listed as Trade Target for Cowboys, Bears Ahead of Deadline Sports As the November 4 trade deadline nears, teams will soon be making calls to ramp up their rosters. If Raheem Morris’ words are to be taken at face value, however, the Atlanta Falcons may be one of the few teams standing pat. “Terry (Fontenot) and all those guys in our…
- Slide into the holiday season when Santa Monica’s ice rink opens in early November News Forget the surf, because this beachside city is all about ice ice, baby, this winter with the return of the long running Ice at Santa Monica skating rink. Tickets are now on sale for the Santa Monica’s annual holiday rink, which runs Nov. 7-Jan. 19 at 1324 Fifth St. A…
- Nintendo San Francisco store to level up for the holiday season News It’s almost the holidays, and that means Union Square will be busy with tree lightings and the likely inclusion of the annual Macy’s Holiday Windows featuring adoptable pets. One of the new kids on the block is the Nintendo San Francisco store, which will transform for the season. Related Articles…
(Visited 1 times, 1 visits today)