Target to Lay Off Thousands of Employees in Restructuring Plan - East Idaho News
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Target to Lay Off Thousands of Employees in Restructuring Plan

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121913 Target2?  SQUARESPACE CACHEVERSION=1425484067867Target(MINNEAPOLIS) — Target will reportedly lay off thousands of employees — many from its Minneapolis headquarters — as part of a cost-cutting plan that will save the retailer $2 billion over the next two years, the company announced on Tuesday.

“While we’re in the early days and there’s no doubt that transformation can be challenging, we’re taking the steps necessary to unleash the potential of this incredible brand,” Target CEO Brian Cornell said in a statement.

“I’m encouraged by our early momentum, and am confident that by implementing our strategy, simplifying how we work, and practicing financial discipline, we will ignite Target’s innovative spirit and deliver sustained growth,” the statement continued.

The efforts are part of a larger measure to boost business operations, including opening more small stores and creating products to appeal to younger audiences.


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