Target to eliminate 1,800 corporate jobs
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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.
The company, whose stock price is down more than 30% this year, has struggled in the wake of high-profile controversies and increased competition.
Target Corp. is eliminating about 8% of corporate roles in its first major restructuring in years, according to a memo viewed by Bloomberg News, as the retailer seeks to reduce complexity and regain its footing.
“People may have trouble remembering new information, paying attention or moving smoothly,” she said. “This can slow reaction time, cause slurred speech, and raise the risk of car crashes by 30%-40%. The effects depend on how much cannabis is used, how it’s taken, and how used to it someone is.”
In a statement quoted by CNN, Target said that the changes “set the course for our company to be stronger, faster and better positioned.” Target has announced that it will be laying off hundreds of employees,