Pink is the new black at Target. On Wednesday the mass-market retailer cut 140 employees and eliminated 50 open positions at its Minneapolis headquarters, the second in a wave of layoffs expected over the next two years.
According to the Star Tribune, most of the jobs were in the recently-formed “business performance organization” group, which works on large-scale projects within the company’s core strategic areas.
The news follows earlier cuts confirmed in March that affected 1,700 employees and purged 1,400 open positions as part of a $2 billion cost-savings plan. Executives had warned that “several thousand” job cuts were coming as the company reshuffles its operations.
Target spokeswoman Molly Snyder said the workers will receive severance and benefit packages comparable to those offered in the first round of layoffs. Before the downsizing started, Target employed 13,500 people in Minneapolis; it now has about 11,000 people working at its headquarters.
In addition, Target cut about 17,000 jobs north of the border in January when it announced it was closing all 133 of its Canadian stores, while earlier this month, the retailer laid off about 180 people at its tech operations in India.
And more jobs could be on the chopping block soon. “Like all healthy, well-managed companies, we will continue to assess the business and make decisions about the work we do, and how we do it, to deliver sustainable, long-term growth,” Snyder told the Star Tribune in an emailed statement.