Target Cuts 1,800 Corporate Jobs in Largest Retail Layoff Since 2014

Target Corporation announced a major restructuring involving the elimination of 1,800 corporate jobs, approximately 8% of its global office workforce, as part of efforts to simplify operations and return to growth. Incoming CEO Michael Fiddelke, who assumes the role in February 2026, communicated that the complexity and overlapping layers within the company have slowed decision-making and innovation, necessitating these layoffs to build a stronger future. The cuts represent the largest round of layoffs at Target in a decade and primarily affect corporate roles rather than retail staff, who will remain critical during the holiday season. Analysts view the move as a painful but necessary step signaling decisive leadership and a focus on long-term profitability, although a visible sales recovery is still needed to improve investor sentiment. Target has experienced stagnant sales for four years, with shares dropping about 61% since their 2021 peak, underscoring the urgency of these changes. The company plans to report Q3 earnings soon, with cautious optimism from investors following the announcement.