Friday, June 19, 2015

Target laying off another 140 employees

MINNEAPOLIS — Target Corp. announced Wednesday that it is laying off 140 headquarters-based employees and eliminating another 50 jobs as part of a corporate restructuring.
Most of the jobs being eliminated are part of the company’s Business Performance Optimization Center of Excellence and “were places we identified redundancies or opportunities for greater efficiencies,” Target spokeswoman Molly Snyder said in a statement.
Snyder said the cuts are not connected to the announcement Monday that the company is selling its in-store pharmacies to CVS Health for about $1.9 billion.
The layoffs continue a trend for the Minneapolis-based retailer, which laid off about 1,700 corporate workers and eliminated an additional 1,400 open positions in March. That followed 550 headquarters job cuts in January related to the retailer’s exit from the Canadian market. The closing of the Canadian stores resulted in about 17,000 job cuts there.
Target’s stock gained 1.4 percent Wednesday, closing at $82.10.
The Pioneer Press is a media partner with Forum News Service.

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