Target to Cut 1,800 Corporate Jobs Amid Slump | JQJO

Target will cut 1,800 corporate jobs—about 8% of its corporate workforce—in its first major layoffs in a decade, the Minneapolis-based retailer said. In a memo, incoming CEO Michael Fiddelke said the move is meant to simplify operations and speed decisions as the company battles a sales slump and expects annual sales to fall. The cuts combine roughly 1,000 layoffs with 800 unfilled positions; affected staff will be notified Tuesday and receive pay and benefits until January 3 plus severance. Store and supply-chain roles are unaffected. Fiddelke, now COO, becomes CEO February 1.