Associated Press, Published November 02 2009
Target Corp. cuts 85 marketing jobsMINNEAPOLIS – 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 last week.
The affected employees 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 during 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 such as home decor and clothing.
Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.