Target announced plans to eliminate about 1,800 corporate positions in a move that will reduce the retail chain’s global workforce by about 8%.\u00a0<\/p>\n
Incoming CEO Michael Fiddelke announced the move in an email to employees Thursday, saying that it’s part of Target’s goal to “move faster and simplify how we work.” He added that “the complexity we’ve created over time has been holding us back. Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life.”\u00a0<\/p>\n
In his announcement, Fiddelke said all employees at Target U.S. headquarters should work from home next week while the job cuts are implemented. Commercial unit employees had been asked to return to the office<\/a> at least three days a week starting only last month.<\/p>\n “Decisions that affect our team are the most significant ones we make,” Fiddelke said. “We never make them lightly. I know the real impact this has on our team, and it will be difficult.”<\/p>\n Target announced earlier this year that Fiddelke<\/a>, a 20-year company veteran, will succeed current CEO Brian Cornell in the coming year. Cornell, who struggled to turn around weak sales in a more competitive, post-COVID retail landscape<\/a>, will remain as executive chair of the company’s board of directors.\u00a0<\/p>\n The change in leadership was announced in August as Target reported another quarter of sluggish results. Target reported a 21% drop in net income in the quarter ending Aug. 2.\u00a0<\/p>\n Fiddelke said Thursday that the company’s layoffs were only one part of “adjusting our structure,” and said his priorities included accelerating Target’s adoption of technology and elevating customers’ experience.<\/p>\n","protected":false},"excerpt":{"rendered":"Target announced plans to eliminate about 1,800 corporate positions in a move that will reduce the retail chain’s…\n","protected":false},"author":3,"featured_media":326209,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,420,1401,67,132,68],"class_list":{"0":"post-327516","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jobs","8":"tag-business","9":"tag-jobs","10":"tag-target","11":"tag-united-states","12":"tag-unitedstates","13":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115425757410938649","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/327516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=327516"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/327516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/326209"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=327516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=327516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=327516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}