Target to Slash Office Employees

Target Corp. (Minneapolis) announced the termination of 475 office-based employees around the world and the elimination of an additional 700 positions that aren’t currently filled.

“We believe these decisions, while difficult, are the right actions as we continue to focus on transforming our business,” a Target spokeswoman said in an e-mailed statement. “We will continue to invest in key business areas to strengthen our ability to compete and thrive well into the future.”

Target has found itself uncharacteristically hitting the wall in the U.S., and its recent expansion to Canada has not been successful. Clearly, the December security breach affecting millions of debit- and credit-card accounts has hurt, as well.

The statement did not provide specifics on the divisions or countries that would be affected, though it said no positions in Canada will be eliminated.