Target Announces Layoffs

It seems that no one is safe anymore as Target has announced that they will eliminate more than 1,000 jobs.

From BizJournals.com:

Target Corp. announced Tuesday that it will slash 1,000 jobs at its downtown Minneapolis headquarters, laying off 600 workers and eliminating 400 open positions. The cuts represent about 9 percent of its downtown work force.

Affected employees will continue to receive their full pay and benefits through April 1, at which time they will receive severance packages based on how long they have been with the company. As part of those packages, Target will provide 12 months of continued Target health care benefits, in addition to 12 months COBRA benefits, and outplacement support to assist them in transitioning to their next position.

Target also will close its Little Rock, Ark., distribution center later this year. The facility employs about 500 workers. They will be offered positions at other Target distribution centers or will receive severance packages similar to those received by the headquarters employees.

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