In a strategic move unveiled Thursday, Target announced it will eliminate approximately 1,800 corporate roles — about 8 % of its global corporate workforce, according to Business Insider. Reuters reported that Target’s cuts comprise around 1,000 existing employees and the elimination of 800 open positions.
The decision comes as Target faces persistent headwinds: the company has reported weak or declining same-store/same-channel sales for nine of the last eleven quarters, and its stock is down about a third year-to-date. For stakeholders, the move signals that Target is shifting into cost-discipline and structural-change mode in the face of tougher competition from Walmart Inc. and Amazon.com, Inc., evolving consumer discretionary-spend patterns, and elevated import tariffs. Despite the layoffs, Target reaffirmed its annual forecast, suggesting management believes the strategy will help stabilize performance.
Earlier this year, the State Board of Administration of Florida, represented by the Attorney General of Florida James Uthmeier and America First Legal (AFL), filed a major class-action lawsuit against Target Corporation, alleging the company knowingly misled and defrauded investors by concealing the financial risks of its radical LGBTQ activism, costing shareholders tens of billions of dollars. Boyden Gray PLLC and Lawson Huck Gonzalez PLLC also serve as plaintiff’s counsel in the lawsuit filed in the U.S. District Court for the Middle District of Florida. To view a copy of the complaint, click here.
