Target to slash 1,800 office jobs in bid for turnaround

Target is set to cut 1,800 corporate jobs, about 8% of its global corporate workforce, in an effort to reverse stagnant sales. The impending layoffs come amid several quarters of weak sales and a stock price decline, placing Target behind Walmart and competitors. Incoming chief executive Michael Fiddelke highlighted the need to streamline operations and decision-making processes as the company moves towards a more efficient and innovative future.