Amazon Targets As Many As 30,000 Corporate Job Cuts
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More than 800 Minnesota-based Target employees will lose their jobs amid a massive restructuring effort by the mega retailer, according to documents filed to the state's employment department.
Over the last year, Target has found itself at the center of intense backlash and boycotts due to a series of controversial business decisions that verge on the political. The fallout has taken a toll on the company's finances, leading to several slowdowns in sales.
Target corporate employees learned Tuesday whether they are among the roughly 1,000 individuals affected by the company's layoffs.
The truth is, the complexity we’ve created over time has been holding us back,” Chief Operating Officer Michael Fiddelke, who is set to become Target’s next CEO, wrote in a note announcing the layoffs.
In a memo sent to employees, incoming Target CEO Michael Fiddelke announced that the retailer would be cutting about 1,800 corporate jobs.
By highlighting programs that support Black entrepreneurs, Target is seeking to demonstrate that its retreat from broad DEI goals does not mean a full withdrawal from equity-driven initiatives — even as it continues to face questions about the depth of its commitments.
In their announcements to employees, both Target and Amazon cited the need for efficiency and innovation as the driving force behind the layoffs.
"After capturing hearts with his holiday charm last winter, Kris K. from Target is back to deliver magic, mischief and must-have gifts this holiday season."
The Canadian prime minister put the onus on the president to explain the “unexpected twist” in their relationship.