Core Insights - Target is eliminating approximately 1,800 corporate positions to streamline decision-making and rebuild its customer base [1][2] - The layoffs will affect about 8% of Target's global corporate workforce, primarily at its Minneapolis headquarters [2] - The new CEO, Michael Fiddelke, emphasized the need for structural adjustments to enhance retail leadership and execution speed [5] Company Strategy - The layoffs are part of a broader strategy to address complexities that have hindered decision-making and operational efficiency [4] - Fiddelke outlined three urgent priorities: reclaiming merchandise leadership, improving customer experience, and investing in technology [4][5] - The company has faced challenges, including flat or declining comparable sales in nine of the last eleven quarters, with a 1.9% dip reported in the second quarter [6] Operational Impact - About 1,000 employees will receive layoff notices next week, along with the elimination of 800 vacant positions [2] - The job cuts will not impact store employees or those in sorting, distribution, and supply chain facilities [6] - The company aims to enhance its brand image and customer experience, addressing complaints about store conditions and product presentation [4]