Summary
Target plans to lay off about 500 employees, mainly in distribution centers and regional offices. The company will invest more in its stores as part of a restructuring plan for 2026. This move follows several challenging years for Target, including boycotts and declining profits.
Key Facts
- Target will lay off approximately 500 employees as part of a 2026 restructuring.
- The affected roles are mainly at store district levels and within supply chain locations.
- Target aims to increase store labor hours and enhance guest experience training for employees.
- Wages for employees will remain unchanged despite these changes.
- Target has faced political boycotts over its merchandise decisions and policy changes.
- CEO Brian Cornell stepped down in February 2026 and was succeeded by Michael Fiddelke.
- Target's net sales and comparable sales dropped in the third quarter of 2025.
- The U.S. inflation rate is currently at 2.7%, with economic concerns impacting consumer confidence.
