Target to cut 1,800 corporate roles in turnaround effort

(Reuters) — Target is cutting around 1,800 corporate roles in its first major layoff in around a decade as the retailer looks to reverse years of stagnant sales and simplify its operations.

The move, unveiled by incoming CEO Michael Fiddelke in memo to employees on Thursday, comes at a time its share price has lagged rivals and the company has faced backlash for pulling back from its diversity, equity, and inclusion policies.

The decision will affect about 8% of its corporate workforce, including the closure of 800 open positions. Employees losing their jobs will receive pay and benefits through early January, along with severance packages.

The cuts, which will impact managers more than individual contributers, do not affect stor

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