Target says it will eliminate another 190 jobs
Jun. 17, 2015
NEW YORK (AP) — The retailer Target is cutting another 140 jobs at its headquarters and eliminating 50 other unfilled jobs.
The Minneapolis-based company says it is trying to simplify and streamline its organization.
Target Corp. said in March that it would lay off 1,700 workers, mostly in Minneapolis, and eliminate 1,400 open positions. Those cuts were part of a restructuring plan intended to eliminate $2 billion in spending over the next two years. The company wants to invest that money in its online operations and other areas as it tries to become more nimble and innovative.
In addition, the retailer laid off more than 17,000 people when it closed all of its stores in Canada this year.
Under CEO Brian Cornell, who joined the company in August, Target is emphasizing areas like fashion, children's products and home furnishings and is bringing more organic, natural, gluten-free and locally produced food into its grocery sections.
The company also halved the free-shipping minimum for Target.com orders, meaning shoppers in the continental U.S. and military postal facilities can get free shipping on most orders worth $25 or more.
Target shares rose $1.32, or 1.6 percent, to $82.29 in afternoon trading. Its shares are up 41 percent over the past year.