If the job ax fell at Target Corp. earlier this year, the blood is still squirting. On Wednesday morning 140 employees were laid off from its Twin Cities headquarters.
Most of the cuts are tied to its corporate speak-y “Business Performance Optimization Center for Excellence.” Ironically, the higher-ups must have decided that the group created to streamline operations could itself be streamlined. Additionally, another 50 openings will not be filled.
“As a part of our ongoing transformation efforts, we are continuing to roll out a comprehensive corporate restructuring across our headquarters locations,” Target spokeswoman Molly Snyder says in a statement.
This year Target has seen a rash of “corporate restructuring” (i.e. job cuts) starting in February after the company decided to close its 133 Canadian stores. Thus far in 2015, the retail giant has laid off approximately 2,350 people from its corporate offices, where roughly 11,000 are employed. The biggest round came in March with the announcement that several thousand positions would be slashed during the next two years, starting with 1,700 that month.
The new layoffs come the same week Target announced a $1.9 billion deal to sell its pharmacies and in-store clinics to CVS Health. The discount retailer generated nearly $73 billion last year.
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