Target cuts 1,700 staff from headquarters

Target (NYSE:TGT) laid off 1,700 staff members from its Twin Cities headquarters today, the largest company downsizing to date.

The announcement comes less than a week after the company said it would cut thousands of jobs in the United States and India in an effort to streamline expenses by cutting $2 billion in costs in the next two years. 

The loss amounts to about 13 percent of the total employees at Target headquarters, reported the Star Tribune. These layoffs come in addition to the 550 corporate workers who were let go last month when the big-box retailer announced it would shutter all Canadian operations.

The company also announced that 1,400 open jobs would not be filled.

For more:
-See this StarTribune article

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