Target is scaling back its workforce, a devastating blow to employees ahead of the holidays.
Roughly 1,800 corporate jobs are being cut, according to a memo shared by incoming CEO Michael Fiddelke and reported by The Wall Street Journal and CNBC. That number includes 1,000 layoffs and the elimination of 800 open roles, impacting about 8% of the company’s global HQ workforce. Around 80% of affected positions are based in the United States.
“Decisions that affect our team are the most significant ones we make, and we never make them lightly,” Fiddelke wrote. “I know the real impact this has on our team, and it will be difficult. And, it’s a necessary step in building the future of Target and enabling the progress and growth we all want to see.”
He added that the restructuring will help Target move faster in tech and improve how it serves customers.
“Put together, these changes set the course for our company to be stronger, faster, and better positioned to serve guests and communities for many years to come.”
Store and supply chain jobs are not impacted. Target has not released its holiday hiring numbers this year, but plans to give current employees more hours and pull from a pool of 43,000 flex workers instead.
