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Target cuts 140 jobs to streamline business

RBR Staff Writer Published 19 June 2015

American retailer Target has cut an additional 140 jobs at its headquarters, in a move to streamline business.

Target

The company will also axe 50 other unfilled jobs, as per various media reports.

Earlier in March, the company announced plans to eliminate close to 3100 jobs to reduce $2bn in costs during the next two years. It intends to invest the money saved in its online operations and other areas.

The retailer also closed all of its stores in Canada, a move that resulted in 17000 job cuts.

Target is currently focusing on fashion, children's products and home furnishings, as well as adding more organic, natural, gluten-free and locally produced food into its grocery sections.

The company also reduced the free-shipping minimum for Target.com orders by 50% which means shoppers in the continental US and military postal facilities can get free shipping on most orders worth $25 or more.

Target chairman and CEO Brian Cornell previously said: "We're seeing early momentum in our efforts to transform Target, and our team is entering the new fiscal year with a singular focus on continuing to differentiate our merchandise assortment and shopping experience while controlling costs by reducing complexity and simplifying the way we work.

"We're confident that these efforts will allow us to grow our earnings while returning cash to our shareholders in 2015 and beyond, driving improvements in Target's return on invested capital and creating long-term value for our shareholders."


Image: Target aims to add more organic, natural, gluten-free and locally produced food into its grocery sections. Photo: courtesy of Peter J. Romano 2nd / Wikipedia.