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Target Announces 1,800 Corporate Job Cuts Amid Declining Sales
Target Announces 1,800 Corporate Job Cuts Amid Declining Sales
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BTCCSquare news:
Target Corp. will eliminate 1,800 corporate positions, including 1,000 active roles and 800 open jobs, as the retailer grapples with 11 consecutive quarters of weak comparable sales growth. The cuts represent 8% of its 22,000-person corporate workforce, with 80% impacting U.S.-based employees.
Incoming CEO Michael Fiddelke cited organizational complexity as a key challenge: "The truth is, the complexity we've created over time has been holding us back. Too many layers and overlapping work have slowed decisions." The restructuring comes as Target faces intensified competition from Walmart and Amazon, coupled with shifting consumer spending away from home goods and apparel categories.
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