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Target, the major Minneapolis-based retailer, has announced plans to lay off approximately 1,800 corporate employees—amounting to about 8% of its headquarters workforce. The layoffs include a direct cut of 1,000 jobs and the elimination of 800 open positions, signaling a significant downsizing at the corporate level.
This decision comes amid Target's ongoing struggle with 11 consecutive quarters of stagnant or declining sales, prompting the company to streamline operations and improve efficiency. Target's CEO lately announced a shift in leadership, with COO Michael Fiddlekey set to assume the role of CEO in February—a sign of transition but also of strategic recalibration.