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Target job cuts: Retailer laying off 1,000 employees in first major round in a decade
Target job cuts include roughly 1,000 layoffs and the elimination of about 800 open positions. Affected workers are expected to be notified on Tuesday.
Target plans to lay off about 1,000 employees as part of its strategy to return to growth after four years of stagnant sales, The Wall Street Journal reported Thursday. The move marks the first major round of layoffs in a decade for the Minneapolis-based retailer.
According to the report, the job cuts include roughly 1,000 layoffs and the elimination of about 800 open positions, amounting to an estimated 8% reduction in Target’s corporate workforce.
Incoming CEO Michael Fiddelke announced the move in a memo to employees at the company’s headquarters, saying affected workers will be notified on Tuesday.
"The complexity we’ve created over time has been holding us back,” Fiddelke said in the memo. “Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life.”
The memo also instructed all US headquarters employees to work from home next week.
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Target has struggled to regain momentum amid soft consumer demand and past inventory missteps. The retailer has also faced backlash after scaling back its diversity, equity, and inclusion initiatives.
As of Feb. 1, 2025, the company employed about 440,000 people. Target shares rose less than 1% in extended trading in New York.
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Who is Michael Fiddelke?
Michael Fiddelke joined Target in 2003 as an intern and has since held a variety of leadership roles across the organization, including in finance, merchandising, human resources, and operations.
Currently serving as Chief Operating Officer, Fiddelke is Target's incoming CEO and will assume the top role and join the Board of Directors on Feb. 1, 2026.
