USA 
United Kingdom
Target will lay off around 1,000 employees and remove a further 800 unfilled corporate roles in its first major workforce reduction in a decade.
The move represents about 8% of the Minneapolis-based retailer’s corporate staff.
The company informed employees of the decision through a memo from current COO and soon to be CEO Michael Fiddelke, who said the changes would help “build the future of Target” and allow faster decision-making across the organization.
“The complexity we’ve created over time has been holding us back,” Fiddelke wrote. “Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life.”
The layoffs will be concentrated at Target’s headquarters, with no store or supply chain positions affected. Employees impacted will continue to receive pay and benefits until January 3, along with severance packages, the company confirmed.
Leadership transition and structural overhaul
The job cuts come ahead of a leadership handover, as Fiddelke prepares to succeed longtime chief executive Brian Cornell on February 1. Currently serving as Chief Operating Officer, Fiddelke has also led the retailer’s Enterprise Acceleration Office, launched earlier this year to simplify operations and introduce new technologies.
He said the new structure would “strengthen retail leadership in style and design,” improve execution, and “accelerate technology to enable our team and delight our guests.”
The company has asked its US headquarters employees to work from home during the transition week while adjustments to internal structures are finalized. Target’s international teams will continue normal office routines.
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Sales pressures and industry comparison
The layoffs follow a prolonged period of weak performance for the retailer, which has seen four years of stagnant sales and declining store traffic. Target has projected that annual revenue will fall again this year.
The stock has dropped 65% since peaking in late 2021, a sharp contrast with Walmart, whose shares have risen 123% over the same period. About half of Target’s revenue comes from discretionary categories, compared with 40% at Walmart, leaving it more exposed to shifts in consumer confidence.
Fiddelke described the restructuring as a necessary move to ensure progress after years of operational complexity. “It’s a difficult decision,” he said, “but a necessary step in building the future of Target and enabling the progress and growth we all want to see.”
