Target Corporation is announcing a series of layoffs Tuesday, media outlets in the company’s hometown of Minneapolis have now confirmed .
Target Layoffs 2009: Corporate Impact
Target isn’t yet saying how many jobs will be lost, but the company has indicated the layoffs will affect only workers at Target’s corporate headquarters — not at any individual stores. More specific information is expected to be revealed once all of the affected employees have been notified.
The official statement as of now:
“Like many other companies, Target is taking actions to manage payroll and non-payroll expense in the current economic environment. We believe the decisions we are making, though difficult, represent appropriate actions to manage our business and maintain our competitive advantage going forward.”
Target had instituted a hiring freeze at the end of last year.
Rumors of cutbacks surfaced earlier in the day from sources inside the corporation. Those reports, however, suggested the layoffs would be a “company-wide phenomenon.”
