Target(US:TGT) Sou Hu Cai Jing·2025-10-24 10:59Core Viewpoint - Target Corporation announced a significant reduction of 1,800 positions at its U.S. headquarters, marking the largest layoff in a decade, as the company faces declining sales and aims to restructure for improved efficiency [1][3][5]. Group 1: Layoff Details - The layoffs consist of 1,000 job cuts and the elimination of 800 vacant positions, representing 8% of Target's global workforce [3]. - The affected positions are primarily at the headquarters in Minneapolis, Minnesota, and do not impact retail stores, supply chains, or international branches [3]. - All employees at the U.S. headquarters have been notified, with those affected expected to receive further communication by the 28th [3]. Group 2: Financial Performance - Target's sales have declined for three consecutive quarters, with expectations for a decrease in annual sales this year [5]. - The company's stock price has fallen approximately 65% from its historical high in 2021 and has decreased about 30% year-to-date [5]. - In contrast, competitor Walmart's stock has increased by about 123% over the past five years, while Target's has dropped by 41% in the same period [5]. Group 3: Management Perspective - Incoming CEO Michael Fiddelke stated that the layoffs are not primarily aimed at cost-cutting but are part of an organizational restructuring to enhance efficiency [5].