These cuts come on the heels of a massive round of layoffs this March. Approximately 1,700 jobs were cut, with most of the layoffs coming from the Minneapolis headquarters. Target also "permanently closed" 1,400 open positions.
In an email statement, Target spokesperson said this is part of the retailer's process of evolving their "administrative support model to reflect a reduced headquarters workforce and drive efficiencies."
The former team members will receive a minimum 15 weeks of pay "as part of a comprehensive package based on their years of service." They'll also be paid a portion of their benefits coverage for the next 6 months.
Target is transforming its business given rapid changes in retail and technology, evolving guest expectations and the competitive landscape. We are taking a long-term view, which includes reducing complexity and controlling costs to become more agile and innovative.
In March, we shared with the internal team that we would be evolving our administrative support model to reflect a reduced headquarters workforce and drive efficiencies. Today we eliminated 100 administrative assistant positions and 40 open administrative assistant positions at headquarters locations.
All separated team members will receive a minimum of 15 weeks of pay as part of a comprehensive package based on their years of service. Target will also pay the employer portion of their benefits coverage for the next six months. Additionally, each team member will be provided with career outplacement support, including access to free executive education certification classes and a discount on evening and part-time MBA courses through a partnership with the University of St. Thomas.
While these decisions are difficult, we believe we are taking the right steps to position Target for long-term success.