Target to slash 1,000 jobs
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Target Cuts 2K Jobs, Including 1K Layoffs, Amid Anti-DEI Backlash, Continuing Sales Slump
Target announced it is laying off 1,000 employees and leaving hundreds of other positions unfilled as the company continues to struggle financially.
Target will cut 1,800 corporate jobs, the US retail giant told employees on Thursday, as the struggling company pushes to reverse four years of stagnant sales. The layoffs, to be rolled out next week, mark the retailer's first major downsizing in a decade and will slash roughly 8% of its global corporate workforce.
The announcement has sparked an online debate about whether the lag is fair to employees. Experts weigh in on what is the best practice.
The retailer said the shake-up is meant to make decision-making faster, strengthen profitability, and set up the company for long-term growth as incoming CEO Michael Fiddelke takes the helm. Jefferies analyst Corey Tarlowe called the move painful but necessary,