Target to cut 1,800 headquarter jobs in restructuring

US retail giant Target has said it will be cutting 1,800 jobs, reflecting 8 percent of the company’s global headquarters team, as part of a restructuring to simplify the business.

According to an internal memo seen by ABC News, the cuts will include 1,000 layouts and the closing out of 800 open roles.

Those impacted will receive pay and benefits until January 3, 2026, alongside severance packages and other forms of support.

The shift comes as part of a strategy led by current COO and incoming CEO Michael Fiddelke, who is set to take up the helm from February.

In the memo, Fiddelke said: “The truth is, the complexity we’ve created over time has been holding us back. Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life.”

A spokesperson for the company underlined to ABC that the job cuts would not impact store or supply chain employees.

The spokesperson added: “We’ve announced changes to our corporate in an effort to accelerate our strategy and return to growth.

“It’s important to understand that we did not take these actions to save cost; adjusting our global HQ structure is the first step in rewiring our organisation to be agile and make faster decisions.”

Fiddelke’s appointment was announced back in August, when it was revealed he would succeed Brian Cornell, who is to transition to the role of executive chair.

The change in leadership comes amid a period of poor performance for the retailer, which is said to be navigating a “challenging environment”, Cornell stated in its Q1 financial report.