Target says it will cut jobs in weak economy

[RedEarth]

Source: (Reuters)

NEW YORK (Reuters) - Discount retailer Target Corp (TGT.N) said on Tuesday that it will cut an undisclosed number of jobs in response to the weak economic environment.

"Target is taking actions to manage payroll and non-payroll expense in the current environment," the retailer said in a statement sent to Reuters.

"While we can confirm that these actions include a workforce reduction, we cannot provide additional details at this time out of respect for our team members," the company said. "We will provide more information at an appropriate time later today once we have more fully addressed the needs of our team."



Read more: http://www.reuters.com/article/ousiv/idUSTRE50Q6RD20090127

[brentspeak]

1. When even practically minimum-wage "jobs" at Target and Best Buy are cut

you know the country is falling off a cliff.

[CatholicEdHead]

3. These jobs are at the corporate offices, not store level (yet)

when it does really hit store level watch out. At this rate it could be as soon as Easter or Memorial Day.

[OhioChick]

10. That it is. n/t

[Raven]

2. I was there today in Keene NH. Nobody there, nobody.

[truthisfreedom]

9. I was at a Super Target in St Louis Park, MN (Minneapolis suburb) and it was packed at 7PM.

No idea why.

[Debi]

4. TARGET?

Oh crap. This is very very bad.

[blue_onyx]

6. Yeah, it is

The Targets near me are usually pretty busy, even the one next door to Walmart. If Walmart starts cutting jobs, then we're really in trouble.

[CatholicEdHead]

5. 1000 jobs at corporate gone

http://minnesota.publicradio.org/display/web/2009/01/27/target_cuts/

Minneapolis — Discount retailer Target Corp. said Tuesday it is cutting 1,000 positions at its Minneapolis headquarters because of the downturn in business. The cuts amount to about 9 percent of employees at the headquarters.

Of the total, 600 employees are being laid off and another 400 open positions are being eliminated. The majority of these changes are effective today.

In addition, the company announced it will close its Little Rock, Ark. distribution center, which currently employs 500 people, later this year.

"Like many other companies, we are taking actions to manage our payroll and non-payroll expenses in the current economic environment," said company spokeswoman Lissa Reitz. "And we believe the decisions we are making, although they are difficult, represent appropriate actions to manage our business and maintain our competitive advantage going forward."

[antimatter98]

7. Let's have a pact: We do no business with companies that layoff. n/t

[truthisfreedom]

8. Have you ever run a company before? Are you out of your mind?

Target is laying off people so they can survive. You'd rather see them go under? Honestly, the attitudes I encounter in this forum lately do not indicate much more than knee-jerk reactions.

[Abq_Sarah]

15. Because

That will help them retain their remaining employees, right?

[Azlady]

11. I was in a Target today -

Man, those people were bending over backwards to help. I mean service, service, service! Hadn't seen that in a long time.

[Thor_MN]

12. These layoffs are stressing me out...

My paycheck is based mostly on the fact that all the stuff in those stores didn't come from the building next door. So far, there's not many signs of distress at my company, but everytime I hear of layoffs that involve Minnesota IT workers, I get a little sick to my stomach.

I've done a full year of being without a job in two stretchs during Dumbass's admin - I'm very leery of layoffs. I've got about 9 months of mortgage and bills socked away in cash, so I'm sure I'm in better shape than many, but...

[Earth_First]

13. I drive by a BRAND NEW 104,000 sq. ft. Target being built on my way to work everyday...

I haven't seen a piece of equipment moving/moved or a pickup truck on the jobsite since last Wednesday.

I'm not sure what that means, perhaps it's weather related. However, I hate to speculate as to what other reasons that there has not any jobsite production in the last 6 days...

[Skink]

14. In Texas HEB Plus is going to devestate target.

You know how Super Targets have a small size super market. Here in Texas HEB the major (only) supermarket chain is building giant supermarkets with basically a Target inside.