Target to cut about 1,800 corporate positions, reports say

(NEXSTAR) — Target is preparing to eliminate roughly 1,800 corporate positions, The Wall Street Journal and CNBC reported Thursday, citing an internal memo sent out by incoming CEO Michael Fiddelke.

The move impacts roughly 8% of the Minnesota-based retailer's global headquarters team, the memo said. Per The Wall Street Journal, 1,000 global corporate employees will be laid off, while 800 open positions will be cut. About 80% of those impacted roles are in the U.S., the outlet noted.

"Decisions that affect our team are the most significant ones we make, and we never make them lightly," Fiddelke wrote in the memo obtained by CNBC. "I know the real impact this has on our team, and it will be difficult. And, it’s a necessary step in building the future of Target and enabling the progress an