Target layoffs have shocked employees and shoppers alike as the retail giant announces plans to cut 1,800 corporate jobs. The move aims to streamline operations and revive growth amid slowing sales and rising competition.
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Table of Contents
What Happened at Target
- Big U.S. retail company Target announced it will cut about 1,800 jobs.
- This includes:
- 1,000 current employees losing their jobs.
- 800 job openings that will no longer be filled.
- This represents about 8% of its global corporate workforce.
- The layoffs are mainly at Target’s headquarters in Minnesota, not in stores.
Who’s in Charge of Target
- Brian Cornell is the current CEO (boss) of Target.
- Michael Fiddelke, who works as Chief Operating Officer (COO), will become the new CEO in February 2026.
- Fiddelke says the goal is to make Target “simpler, faster, and more focused.”
Why Target Is Cutting Jobs
- Target says it has too many layers of management — meaning decisions take too long.
- Sales have been falling for several years.
- The company faces strong competition from Walmart and Amazon.
- Costs are going up, like for shipping and products.
- Target wants to save money and focus on what customers really want.
Who Will Be Affected
- The layoffs affect office workers — not people working in stores or warehouses.
- Most store employees will keep their jobs.
- Target promises to give laid-off workers:
- Pay and benefits until January 2026, and
- Extra money (called severance pay) to help them during the change.
Target’s Financial Summary
| Category | Details |
|---|---|
| Company Name | Target Corporation |
| Headquarters | Minneapolis, Minnesota |
| Revenue (2024) | About $106.6 billion |
| Profit (2024) | Around $4 billion |
| Current CEO | Brian C. Cornell |
| Incoming CEO | Michael Fiddelke (Feb 2026) |
| CEO Net Worth (Est.) | $30–35 million |
| Employees | Around 440,000 total |
Why Sales Are Down
- People are buying fewer non-essential items like clothes and decorations.
- More shoppers are looking for discounts or shopping online.
- Target had too much inventory (extra products) that didn’t sell fast enough.
- The company is spending a lot on technology and delivery systems.
What Target Plans To Do Next
- Simplify how the company works — fewer meetings and faster decisions.
- Focus on top-selling items like groceries, household products, and electronics.
- Invest in online shopping and delivery options.
- Regain customer trust by improving prices and quality.
Frequently Asked Questions (FAQ)
Q1. Is Target closing stores?
- No, only corporate office jobs are affected. Stores will stay open.
Q2. Will this affect shopping at Target?
- Not really. Customers might not notice much change in stores right now.
Q3. Why is Target doing this now?
- Because the company has had weak sales for a few years and wants to fix its problems before the new CEO starts.
Q4. How many people work at Target?
- Around 440,000 people — so the cuts affect a small percentage.
Q5. When will the target layoffs happen?
- Workers will start leaving before the end of 2025, with benefits lasting into early 2026.
Mandatory Disclaimer for Finance News
Disclaimer: This article is for informational and educational purposes only. It does not constitute financial advice, investment recommendation, or a solicitation to buy or sell any securities. Stock prices and financial data mentioned are subject to change. Readers should do their own research or consult with a licensed financial advisor before making investment decisions.
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Conclusion
The 2025 job cuts at Target mark a significant milestone in the company’s attempt to refocus and recover. At a time when major retailers are battling stagnant growth, intense competition and structural cost pressures, Target’s decision to cut 8 % of its corporate workforce shows it is serious about change. But turning strategy into results will be the real test. With leadership transitioning and the surrounding retail landscape shifting, all eyes will be on Target to see whether it can emerge revitalised — or simply leaner.