Minneapolis-based Target will eliminate 1,800 corporate roles, the second-largest downsizing of its headquarters in over a decade. The move combines 1,000 layoffs with the elimination of 800 open roles—about 8% of its global team.
Affected staff will be notified on Tuesday and receive pay and benefits through January 3.
A University of Minnesota professor said layoffs are widespread across industries and noted Target’s holiday plans should be unaffected.
Target announced COO Michael Fiddelke will become CEO on February 1, succeeding Brian Cornell.
The DX Brief
- 1,800 corporate roles eliminated, including 1,000 layoffs and 800 open positions
- Cut equals about 8% of Target’s global workforce
- COO Michael Fiddelke to become CEO February 1, succeeding Brian Cornell
- Professor says holiday plans unaffected; layoffs mirror broader industry trend
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