Target to cut 500 jobs as it continues restructuring efforts under new CEO Michael Fiddelke Brooke DiPalmaFebruary 9, 2026 at 11:17 PM 10 Target (TGT) plans to eliminate 500 jobs in the near future as it continues to reshape the organization under new CEO Michael Fiddelke, who officially took over the company earlier this month.
- - Target to cut 500 jobs as it continues restructuring efforts under new CEO Michael Fiddelke
Brooke DiPalmaFebruary 9, 2026 at 11:17 PM
10
Target (TGT) plans to eliminate 500 jobs in the near future as it continues to reshape the organization under new CEO Michael Fiddelke, who officially took over the company earlier this month.
The memo, sent to employees by Target's chief stores officer Adrienne Costanzo and chief supply chain and logistics officer Gretchen McCarthy on Monday afternoon, said the cuts are an effort to double down on one of Fiddelke's key pillars, "elevating the guest experience" to drive growth.
In order to do that, the company plans to consolidate store districts and standardize "the field operating model to reduce complexity." The announcement will impact 500 roles, including 100 at the store district level that are likely redundant and about 400 across its supply chain sites.
Read more: Worried about job security? Take these 5 steps now to protect your finances.
This announcement comes after Target shared plans to lay off 1,800 roles late last year, ahead of Fiddelke officially taking the top role.
Those cuts were made up of 8% of Target's corporate roles in the US, including 1,000 existing roles and about 800 open roles the company had been hiring for.
In its announcement on Monday, Target said it would reallocate money saved by cutting corporate roles toward increasing hours for store employees and offering more training. This investment won't be a raise in wages, according to a Target spokesperson. The company's hourly wages for store workers currently range from $15 to $24, depending on location.
Target is set to report its fourth quarter and annual results on March 3.
Click here for the latest stock market news and in-depth analysis, including events that move stocks
Read the latest financial and business news from Yahoo Finance
Source: "AOL Money"
Source: Money
Published: February 10, 2026 at 05:18AM on Source: MANUEL MAG
#ShowBiz#Sports#Celebrities#Lifestyle
