> Target will lay off 1,000 global corporate employees and cut 800 open roles

Target announced Thursday it will lay off around 1,000 global corporate employees and cut 800 open roles. The move will cut around 8% of its approximately 22,000 corporate employees, with around 80% of the cuts in its U.S. ranks.

The company will share details of the changes next Tuesday and asked all U.S. corporate employees to work from home next week, he said in the memo. “It will be difficult,” said Fiddelke. “It’s a necessary step.”

Target has reported 11 consecutive quarters of falling or weak comparable sales growth and named Michael Fiddelke as its next CEO over the summer.