Ready for another round on the layoff roller coaster? The Minneapolis Star Tribune reports on the Target layoffs:
Target Corporation announced layoffs this morning at its corporate headquarters in Minneapolis, adding to the tens of thousands of job losses that have already been announced this week.
The discount retailer would not disclose how many employees would lose their jobs, saying they first had to notify its employees. The layoffs will occur at headquarters, a spokeswoman said, and not in the company’s stores.
“Like many other companies, Target is taking actions to manage payroll and non-payroll expense in the current economic environment,” Target said in a prepared statement. “We believe the decisions we are making, though difficult, represent appropriate actions to manage our business and maintain our competitive advantage going forward.”
A spokeswoman said the retailer would provide more information later in the day after fully notifying employees.
Update: The company just announced that 600 people will be cut.