Oct. 24 (UPI) -- Target is eliminating 1,800 corporate jobs as the retailer attempts to return to growth after years of flat sales, the first major round of layoffs in a decade, the company announced Thursday.
The job cuts are a combination of 1,000 employee layoffs and another 800 positions that the Minneapolis-based retailer said will not be filled. Together, the reductions comprise about 8% of Target's corporate workforce. Effected employees will be notified Tuesday, the company said.
In a Thursday memo, Target's incoming CEO, Michael Fiddelke, cited a need to make urgent changes as the reason for the layoffs. "The truth is, the complexity we've created over time has been holding us back," he explained. "Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life."
Fiddelke has been looking for ways to simplify company operations since May by employing technology and other methods to accelerate Target's growth.
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