By Samuel Lopez | USA Herald
USA HERALD – Target Corp. announced Thursday that it will lay off approximately 1,000 corporate employees and freeze 800 open positions, representing about 8% of its global corporate workforce. The decision, made just weeks before the crucial holiday shopping season, underscores the Minneapolis-based retailer’s ongoing struggle to stabilize amid three consecutive quarters of declining sales and an increasingly competitive retail environment.
Incoming CEO Michael Fiddelke described the layoffs as a necessary restructuring to “set the course for our company to be stronger, faster and better positioned” for future growth. Fiddelke, who will assume leadership next year from longtime CEO Brian Cornell, faces the immediate challenge of restoring consumer confidence and investor faith as Target’s (TGT) stock has plummeted nearly 30% in 2025—ranking it among the S&P 500’s worst performers.
While Target has weathered shifting consumer habits before, this downturn is particularly steep. With inflation driving shoppers toward discount alternatives like Walmart and Costco, and convenience-oriented e-commerce platforms like Amazon siphoning off market share, Target’s core categories—home goods, apparel, and décor—have taken a measurable hit. The company confirmed that customers are now prioritizing essentials and pulling back on discretionary spending, a trend analysts say could extend well into 2026.
