Target is eliminating 1,800 corporate jobs as it looks to reclaim its lost lustre

By LISA LEFF Target mentioned Thursday that it is eliminating about corporate positions in an effort to streamline decision-making and accelerate initiatives to rebuild the flagging discount retailer s customer base Related Articles Intel posts profit even as it struggles to regain region share Feds arrest dozens including former Celtics in illegal gambling cases People pardoned by Trump want banks to forgive their past too Ticker Mortgage rates hit -year low Tesla recalls Cybertrucks Boston city councilor wants to jack up taxes for large apartment buildings About employees are expected to receive layoff notices next week and the company also plans to eliminate about vacant jobs a company spokesperson commented The cuts represent about of Target s corporate workforce globally although the majority of the affected employees work at the company s Minneapolis headquarters the spokesperson announced Chief Operating Officer Michael Fiddelke who is set to become Target s next CEO on Feb issued a note to personnel on Thursday announcing the downsizing He noted further details would come on Tuesday and he inquired employees at the Minneapolis offices to work from home next week The truth is the complexity we ve created over time has been holding us back Fiddelke a -year Target veteran wrote in his note Too a great number of layers and overlapping work have slowed decisions making it harder to bring ideas to life Target which has about U S stores lost ground to Walmart and Amazon in latest years as inflation caused shoppers to curtail their discretionary spending Customers have complained of messy stores with merchandise that did not reflect the expensive-looking but budget-priced niche that long ago earned the retailer the jokingly posh nickname Tarzhay Fiddelke explained in August when he was reported as Target s next CEO that he would step into the role with three urgent priorities reclaiming the company s position as a leader in selecting and displaying merchandise improving the customer experience by making sure shelves are consistently stocked and stores are clean and investing in mechanism He cited the same goals in his message to employees calling the layoffs a necessary step in building the future of Target and enabling the progress and development we all want to see Adjusting our structure is one part of the work ahead of us It will also require new behaviors and sharper priorities that strengthen our retail leadership in style and design and enable faster execution he wrote Target has informed flat or declining comparable sales those from established physical stores and online channels in nine out of the past quarters The company published in August that comparable sales dipped in its second quarter when its net income also dropped The job cuts will not affect any store employees or workers in Target s sorting distribution and other supply chain facilities the company spokesperson declared The corporate workers losing their jobs will receive pay and benefits until Jan as well as severance packages the spokesperson commented