Target reportedly plans to lay off hundreds of employees.

The retailer will cut around 1,800 corporate roles, incoming CEO Michael Fiddelke announced in a memo to employees on Thursday, Oct. 23, Reuters reported.

"Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life," Fiddelke said in the memo. "It's a necessary step in building the future of Target."

The decision will affect about 8% of its corporate workforce, including the closure of 800 open positions, Reuters reported. Employees losing their jobs will receive pay and benefits through early January, along with severance packages.

The cuts are expected to affect managers and not store or supply chain roles, according to Reuters.

Fiddelke is Target’s Incoming CEO and Chief Operating

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