Target will invest in stores, cut 500 jobs as new CEO takes over
NBC News • • business
Key Points:
- Target will eliminate about 500 roles, mainly in supply chain operations and store district offices, as part of a restructuring to streamline its organization and empower store directors.
- No store-level jobs will be cut, and starting wages for store workers, typically $15 to $24 per hour, will remain unchanged.
- The changes aim to redirect investment into stores, including additional labor, hours, and guest experience training, to improve customer service and rebuild Target’s customer base.
- Target has faced market share losses to Walmart and Amazon, along with customer frustration over store clutter and inconsistent merchandise, prompting renewed focus on service and store efficiency.
- The restructuring is among the first major moves by new CEO Michael Fiddelke, with the company set to report earnings
