Target lays off 475 workers, won't fill 700 open positions
|Minneapolis's job market just got tighter.|
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Synder said the layoffs "are not in response to the data breach," but the news of late hasn't been good for Target in general: Last week, the company disclosed disappointing fourth-quarter sales numbers, and Target's stock has been steadily plunging since late summer.
A statement released by the company says, "As an organization, Target continually assesses our operating model to ensure we are well-positioned to adapt to changing business needs."
"We believe these decisions, while difficult, are the right actions as we continue to focus on transforming our business," the statement continues. "We will continue to invest in key business areas to strengthen our ability to compete and thrive well into the future."
Asked what positions in particular were eliminated, Synder said she doesn't have "specific details" but said the layoffs "were across the company."
Synder also didn't know the particulars about local layoffs, but said "the number [affected] at headquarters is a really small percent."
Workers who were notified of their layoffs today will remain on the payroll for 45 days, Synder told us.
"Beyond that, comprehensive severance packages will be offered based on years of service," she added.
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