Target names new CEO, stock drops with sales

Target has named its new CEO, which was met by a drop in its stock price on Wednesday. Meanwhile, sales have fallen for another quarter. FOX 9’s Mike Manzoni has the latest on the retailer whose headquarters is based in Minnesota.

The Brief

Target sent out an email to employees saying it will be cutting 1,800 positions from its corporate offices.

1,000 employees will be laid off and 800 open positions will be closed.

Employees won't know if they have been laid off or not until Tuesday.

Target announced Thursday it will be eliminating 1,800 positions from its corporate staff.

Target cuts positions, announces layoffs

What we know:

In an email sent to employees, Target said it will be restructuring and will cut about 1,000 employees and 80

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