Target to Lay Off 1,000 Employees, Cut 800 Open Positions
Target is embarking on significant workforce reductions, laying off 1,000 corporate employees and cutting 800 open job positions. This decision affects approximately 8% of the employees at the company’s global headquarters.
Purpose of the Layoffs
The layoffs are intended to simplify operations and enhance efficiency within the organization. Michael Fiddelke, the Chief Operating Officer and incoming CEO, emphasized the need for change in a recent internal memo.
Key Quotes from Leadership
Fiddelke stated, “The truth is, the complexity we’ve created over time has been holding us back.” He noted that the existing organizational structure has created numerous layers and overlapping responsibilities, which have hindered decision-making processes.
Impact on Workforce
- 1,000 corporate employees to be laid off.
- 800 open roles will be eliminated.
- A total of 8% of the global headquarters team is affected.
These changes aim to help Target react more swiftly to market demands and improve overall productivity. As the company transitions, employees and stakeholders will be closely observing the outcomes of these adjustments.
