One of the reasons this is not the Target of 10 years ago is that the company has gotten so bloated and bureaucratic. Departments are 3-4x the size of their benchmarks in other companies. Brutal as these layoffs are, they're designed to get the company back to a size where it can be more effective.
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At least in IT, this is not true... in fact, the company I came from last year is 2X the size of my Target team, contractors included.
Totally genius! Why didn't I think of that, or at the very least, why didn't Gregg think of that?
Genius!