Target Announces 1,800 Corporate Job Cuts Amid Strategic Restructuring
Target Corporation is eliminating 1,800 corporate positions to streamline operations and address declining sales.
Target Corporation has announced plans to eliminate 1,800 corporate positions, comprising 1,000 layoffs and 800 unfilled roles, as part of a strategic restructuring effort. The affected employees will be notified on October 28.
In a memo to employees, Chief Operating Officer Michael Fiddelke stated, "The truth is, the complexity we've created over time has been holding us back. Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life."
This restructuring comes as Fiddelke prepares to succeed Brian Cornell as CEO on February 1, 2026. Fiddelke, who joined Target in 2003, has held various leadership roles across finance, merchandising, human resources, and operations.
Target has faced declining sales, with a nearly 1% drop in net sales year-over-year and a 2% decrease in comparable sales in the second quarter of fiscal 2025. The company anticipates continued sales declines for the full year of 2025.
The labor market has also weakened, with the U.S. Bureau of Labor Statistics reporting 911,000 fewer jobs added than expected in the 12 months through March 2025. In August, only 22,000 new non-farm payrolls were recorded, and the unemployment rate rose to 4.3%, the highest level in nearly four years.
Target's restructuring aims to streamline operations and reverse recent sales declines amid a challenging economic environment.
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