Target layoffs Target will lay off around 1,000 employees, Target cuts 1,800 corporate jobs in its first major layoffs in a decade
NEW YORK —
Target will lay off 1,000 corporate employees and close 800 vacant positions—affecting approximately 8% of its global corporate workforce—the company announced Thursday.
Target’s newly elected CEO, Michael Fidelke, said in an email to employees that the layoffs and changes “pave the way for our company to emerge stronger, faster, and better positioned for the future.”
The company announced in August that Fidelke would replace veteran CEO Brian Cornell next year.
These layoffs, coming ahead of the crucial holiday shopping season, are the latest sign of the Minneapolis-based company’s struggles. It is grappling with declining sales and intense opposition to its rollback of DEI programs.
Its decision to end some of these initiatives angered advocates of diversity and inclusion policies, who felt the move was misleading. Target had built its reputation as a strong corporate supporter of DEI.
Target said its move impacted sales, which have been falling for three consecutive quarters.
Economic conditions and competition from Walmart, Amazon, and Costco have also impacted Target.
Customers have changed their shopping habits and are buying less of the company’s household goods and clothing.
The company’s (TGT) shares fell 30% in 2025, making it one of the worst-performing companies in the S&P 500 this year.
A Target spokesperson said the company did not lay off employees to reduce costs. Rather, it was a move to prepare its organization for faster decision-making.
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