Target To Cut 1,000 Corporate Jobs
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Target will lay off 1,000 corporate employees and close 800 open roles — affecting roughly 8% of its global corporate workforce — the company said Thursday.
The company's stock is down more than 30% for the year thanks to slumping sales, spurred in part by ongoing boycotts.
Target on Thursday informed staff of its first major corporate workforce reduction in a decade as the retailer tries to revitalize growth after four consecutive years of sluggish sales.