Retailer Target Corp. cuts 85 jobs in marketingMINNEAPOLIS (AP) — Retailer Target Corp. has decided to cut some 85 marketing jobs, representing about 8 percent of its 1,100 employees in that department.
MINNEAPOLIS (AP) — Retailer Target Corp. has decided to cut some 85 marketing jobs, representing about 8 percent of its 1,100 employees in that department.
The move was part of Target's normal practice of evaluating all areas of the company to make sure they are effective, the company said in a statement Thursday.
The affected employees all are located at its headquarters in Minneapolis, where some 12,000 Target employees work, Target said.
The affected employees will receive full pay and benefits through Dec. 14., and then severance pay, a year of health care benefits and assistance looking for new jobs.
Target has been cutting staff, tightening consumer credit card underwriting, and limiting inventory in the recession.
Although discount retailers have benefited from consumers switching to cheaper stores and focusing on necessities in the recession, Target has been hurting because much of its revenue comes from fashionable nonessentials like home decor and clothing.