Story perspectives
Target Cuts 1,800 Jobs Amid Revenue Decline
10/26/2025
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Story summary
- Target Corporation will lay off 1,800 corporate employees, its first major reduction in a decade.
- Incoming CEO Michael Fiddelke announced the cuts in a memo to staff.
- The cuts include 1,000 layoffs and 800 unfilled positions to simplify operations.
- Retail staff are not affected, while headquarters employees express panic over job security.
- Revenue fell by $2.5 billion from 2023 to 2025, with pay and benefits extended through January 3, 2026.
