In a message to the company’s headquarters, incoming CEO Michael Fiddelke made the announcement and promised to notify the impacted staff on Tuesday.
As part of a comprehensive reorganization strategy to spur growth after four years of stagnating sales, Target Corp. is planning to let off around 1,000 workers and remove 800 open jobs, according to a Thursday Wall Street Journal article. This is the first significant wave of layoffs the Minneapolis-based business has seen in ten years.
In a message to the company’s headquarters, incoming CEO Michael Fiddelke made the announcement and promised to notify the impacted staff on Tuesday.
The intricacy that we have developed over time has been impeding our progress, Fiddelke wrote. “It is more difficult to realize concepts when there are too many layers and overlapping effort, which has hampered judgments.”
As the corporation completes the reorganization process, the message also directed all corporate workers in the United States to work from home the next week.
The layoffs affect around 8% of Target’s corporate workers, according to the WSJ story.
Due to poor customer spending and poor inventory management, Target has had difficulty regaining its footing in recent years. The decision to reduce diversity, equality, and inclusion (DEI) initiatives that were formerly essential to the company’s corporate culture has also drawn criticism.
Target has over 440,000 employees as of February 1, 2025. According to the Hindustan Times, its stock increased by less than 1% during Thursday’s extended trading in New York.
As businesses look to reduce expenses and concentrate their operations, the layoffs coincide with a larger wave of job losses in US sectors, such as media, retail, and technology.
Michael Fiddelke is who?
After starting as an intern at Target in 2003, Michael Fiddelke has progressed to a number of senior positions in operations, finance, merchandising, and human resources. On February 1, 2026, he will join the company’s Board of Directors and take over as CEO, replacing his present role as Chief Operating Officer.