MINNEAPOLIS — The Minnesota-based Target retail chain confirmed persistent rumors of a pending major downsizing. Some 1,800 positions will be eliminated at corporate headquarters, the company said. Target has been losing market share to Walmart, Amazon and Costco. A factor also has been backlash for removing Pride merchandise from the shelves and for backing off diversity, equity and inclusion policies as pressure mounted from President Trump to do so. In announcing the cutbacks, new Target chief executive Michael Fiddelke said:
“The complexity we’ve created over time has been holding us back. Too many layers and overlapping work have slowed decisions, making it harder to bring ideas to life.”
The Target cutback comes amid a slowing national economy triggered by Trump’s global tariff war. The U.S. Bureau of Labor Statistics reported unemployment climbed in August. Since then, the agency has been ordered by Trump not to release any more negative data. As a result, the monthly update for September has been locked up.