Target cutting 475 jobs worldwide
By Tom Webb
twebb@pioneerpress.com
POSTED: 01/22/2014 12:01:00 AM CST
UPDATED: 01/22/2014 01:25:19 PM CST
Target Corp. laid off 475 corporate employees Wednesday, as it struggles with disappointing sales, Canadian woes and aftershocks from its massive data breach.
The company didn't disclose where the layoffs occurred, nor how many came from Target's Minneapolis headquarters.
But unofficial word from Target employees indicated the deepest cuts came at Target Technology Services. Another 45 marketing employees were also said to be dismissed. Others layoffs were reported in finance.
Some of those jobs will be moved overseas, including to Target's technology offices in India, employees said.
"Today we informed our team that approximately 475 positions are being eliminated worldwide," Target said in a statement. "We believe these decisions, while difficult, are the right actions as we continue to focus on transforming our business."
The Target statement continued, "We will continue to invest in key business areas to strengthen our ability to compete and thrive well into the future."
In a further cost-cutting move, Target indicated it will not fill 700 positions that are currently open.
The long-rumored layoffs -- representing about 4 percent of its Minneapolis corporate workforce -- began Wednesday morning, as employees were summoned to mandatory 15-minute private meetings.