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Investing.com-- U.S. retailer Target Corporation (NYSE:TGT) said on Thursday it will cut about 1,800 corporate-level roles, representing around 8% of its global headquarters workforce, in a major restructuring initiative.
The decision was announced in a memo by incoming chief executive Michael Fiddelke, who takes over in February 2026.
The reduction includes approximately 1,000 current positions and the elimination of 800 open roles, with the cuts concentrated in managerial functions and largely based in the U.S. headquarters.
"Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life," Fiddelke said, describing the action as necessary to streamline operations and accelerate the retailer’s turnaround.
The move comes amid a prolonged period of weak comparable-sales performance for Target and mounting pressure from investors for operational improvements.