Target to slash 1,800 jobs, most at corporate headquarters

Target app on a phone and Target bag.
Job cuts FILE PHOTO: Target is cutting about 1,800 jobs at the corporate level. (Brenda Blossom - stock.adobe.com)

Target is cutting more than a thousand jobs as the company has suffered from several quarters of stagnant sales.

Most of the job cuts will affect the corporate level, with about 1,000 layoffs, but 800 open positions will not be filled as well, The Wall Street Journal reported.

The cuts will affect about 8% of the company’s headquarters, ABC News reported. Most of them will be managers.

Stores and supply chain jobs will not be affected, a Target spokesperson said.

Incoming CEO Michael Fiddelke told employees in a memo, “The truth is, 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.”

He instructed corporate employees to work from home next week, saying, the cuts "will be difficult,” but “It’s a necessary step.” Affected employees will find out on Tuesday, CNBC reported.

Those who are being laid off will get pay and benefits until Jan. 3, along with severance packages and other support, ABC News reported.

Fiddelke will officially take over as CEO in February, but has been making changes since August, The Wall Street Journal reported.

Current CEO Brian Cornell will remain as executive chairman of the company’s board, once Fiddelke becomes the chief executive.

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