Target to Cut 1,800 Corporate Jobs

Target will eliminate about 1,800 corporate positions—roughly 1,000 layoffs and 800 open roles—reducing its corporate workforce by about 8%, with a majority of affected employees based at the Minneapolis headquarters and layoff notices set to go out next week. Incoming CEO Michael Fiddelke is set to take the helm in February 2026 and said the cuts aim to remove organizational complexity, speed decision‑making and accelerate initiatives to rebuild growth in merchandise, the guest experience and technology. The reductions are concentrated at leader‑level roles (about three times the rate of individual contributors) and do not target store or supply‑chain employees. Target said impacted staff will receive pay and benefits through Jan. 3, 2026, plus severance and support. The move follows several years of stagnant or declining sales, including a 1.9% comparable‑sales decline in the most recent quarter and a drop in net income, and comes amid increased competition and recent consumer backlash over rolled‑back DEI commitments. Analysts say the restructuring is a painful but necessary step to signal decisive leadership and enable a turnaround, though investors will want to see top‑line improvement.