Target Cuts 1,800 Corporate Jobs -- First Major Layoffs in a Decade
Target cut about 1,800 corporate jobs -- roughly 1,000 layoffs plus 800 unfilled roles, about 8% of its corporate workforce -- its first major layoffs in a decade, as incoming CEO Michael Fiddelke moved to revive growth after years of stagnant sales.
Why Did This Happen?
Four years of roughly flat sales pressured the retailer to cut overhead
New CEO Michael Fiddelke restructuring corporate functions for speed
Flattening management layers and reducing bureaucracy
Refocusing investment on merchandising and store experience
Impact Analysis
Affected employees received pay and benefits through January 3 plus severance. Store and supply-chain roles were spared. The cuts marked a symbolic end to Target's decade-long avoidance of corporate layoffs and underscored retail's 2025 retrenchment.