Summary
Target is laying off 1,000 corporate employees and closing nearly 800 open positions to try to improve its business performance. The company announced these changes due to several quarters of slow sales and plans to become stronger and more efficient.
Key Facts
- Target is cutting 1,000 corporate jobs.
- Nearly 800 vacant positions at Target will not be filled.
- The layoffs and position closures affect about 8% of Target's corporate workforce.
- These changes are part of a strategy to improve Target's business operations.
- Target has experienced slow sales over several quarters.
- The company is also responding to backlash from scaling back diversity hiring initiatives.
