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Target becomes latest retailer to cut jobs as new CEO takes over

Target, which runs nearly 2,000 stores across the U.S., has been struggling to keep up with rivals like Walmart and Amazon — Target, which runs nearly 2,000 stores across the U.S., has been struggling to keep up with rivals like Walmart and Amazon (Getty/iStock)

Target is launching a major restructuring plan that includes cutting hundreds of jobs as its new CEO Michael Fiddelke takes over, according to reports.
Approximately 500 positions are being eliminated, 400 in supply chain operations and 100 at the store district level, though store-level roles remain unaffected, an internal memo obtained by NBC News said.
The changes aim to streamline management, simplify operations, and reallocate resources to improve the in-store customer experience.
The restructuring follows 12 consecutive quarters of weak or declining sales, as Target struggles to compete with rivals such as Walmart and Amazon.
The company has been impacted by softer consumer spending on non-essential items and previously cut 1,800 corporate jobs in October as part of its modernization efforts.

Target employees’ wages stall as new CEO axes hundreds of jobs across the company: report — In full