Target To Lay Off 1,000 Employees As Incoming CEO Cites ‘Too Many Layers’ Slowing Growth

Target Corp. is preparing to lay off around 1,000 employees and cut 800 unfilled positions as part of a sweeping restructuring plan aimed at reigniting growth after four years of stagnant sales, The Wall Street Journal reported on Thursday. The move marks the Minneapolis-based retailer’s first major job reduction in a decade.

Incoming CEO Michael Fiddelke announced the decision in an internal memo, saying affected employees would be notified on Tuesday. “The complexity we’ve created over time has been holding us back,” he wrote. “Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life...

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