Target cuts 1,800 jobs in first major layoff in years

Workforce Reduction - Target is reducing its workforce by approximately 1,800 positions, representing about 8% of its total workforce [1] - This marks the company's first major layoff event in a decade [1] - The layoffs will not affect employees in stores or the supply chain [1] Strategic Context - The company is implementing these changes to revitalize growth following a period of weak sales [1] - Target is preparing for a new CEO to assume leadership in the coming year [1]