Target plans to eliminate 1,800 corporate roles, roughly 8% of its global headquarters team, as part of a restructuring effort.

The cuts include laying off 1,000 current employees and not filling 800 open positions.

The big picture: Managers will be impacted at about three times the rate of other employees. • Affected employees will receive pay and benefits through January 3, 2026, along with severance packages and support services. • The restructuring aims to reduce unnecessary layers and overlapping work that have slowed decision-making, according to incoming CEO Michael Fiddelke.

What we’re watching: Fiddelke, currently COO and a company veteran, will assume the CEO role in February and has begun implementing his vision. • No store-level or supply chain roles will be affected b

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