Target cuts dozens of jobs in marketing
Published 8:37 am Wednesday, March 13, 2024
- Target has made its stores into destinations.
Target Corp. cut dozens of marketing positions this week.
A spokeswoman for the Minneapolis-based retailer declined to share the number of jobs eliminated, but said the reductions amount to 0.3% of its corporate workforce.
Target has about 7,100 corporate employees who work in downtown Minneapolis, as well as thousands more who work at the campus in Brooklyn Park. In addition, it has other corporate employees around the U.S. and in India.
The layoffs come as Target is trying to pull itself out of a sales slump as consumers have pulled back spending amid economic pressures. Its comparable sales have slid for three consecutive quarters and executives said last week they expect sales to continue to be down in the first quarter of this year.
Executives expect sales trends to improve later in the year, forecasting sales growth for this year to be flat to up 2%.