US: Target to cut 9% of HQ jobs
US retailer Target has said that it will eliminate 9% of head office staff in a bid to cut costs.
The Minneapolis-based retailer said the planned workforce reduction would include the elimination of 600 employees and 400 open positions.
Target will also close a distribution centre in Little Rock, Arkansas, before the end of the year - with the loss of a further 500 jobs.
In an announcement yesterday (27 January), Target said that its earnings performance was coming under pressure from weaker-than-expected sales.
The company said that this, combined with the likelihood of continued economic difficulties in 2009, had prompted it to take a more conservative approach to the business.
"We are clearly operating in an unprecedented economic environment that requires us to make some extremely difficult decisions to ensure Target remains competitive over the long-term," president and CEO Gregg Steinhafel said.
Help test our new apparel sourcing tool.
- Rana Plaza four years on – Timeline of change
- Trump and Brexit get a dose of pragmatism
- Industry groups reaffirm commitment to Bangladesh
- Using worker surveys to drive supply chain change
- Where does VF supply chain sit in growth strategy?
- Nike filed patent for "reinforced denim"
- Gap unveils five-year sustainable fibres pledge
- US textile industry applauds Trump executive order
- Adidas and Reebok top transparency index
- Pentland Brands reveals Berghaus factory list
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts
- Myanmar - ISA Country Report