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Was yesterday’s gigantic round of layoffs just the tip of the iceberg. It seems that way.
Today, Target Corporation is announcing a wave of layoffs, media outlets in the company’s hometown of Minneapolis have now confirmed.
Target Layoffs 2009: Corporate Impact
Target will not yet say how many jobs will be lost, but the company has indicated the layoffs will affect only workers at Target’s corporate headquarters and NOT those working at individual stores, not that this will cushion the blow for those affected.
More information should come to light all of the affected employees have been informed.
The official statement is as follows:
“Like many other companies, Target is taking actions to manage payroll and non-payroll expense in the current economic environment. We believe the decisions we are making, though difficult, represent appropriate actions to manage our business and maintain our competitive advantage going forward.”
Target had instituted a hiring freeze at the end of last year.
Rumors of a downsizing surfaced earlier in the day from various inside sources. Those initial rumors, however, suggested that today’s layoffs would be a “company-wide phenomenon.”
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