Yahoo Finance Target slashes 80 head office jobs in new strategy
Target is cutting 80 workers from its head office as it announced a new strategy to move upmarket, and offer better quality clothing, fashion and homewares.
The two-to-three year strategy is in a bid to put some distance between itself and other discount department stores like Big W and Kmart.
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The Australian reported Target staff attended briefings this morning, where they found out about the corporate restructure.
Managing director, Ian Bailey, told the publication it was the right time to recast Target as offering shoppers better quality products that could match retailers like Myer and Country Road, but at more affordable prices.
“It is really about the acceleration of the transformation of Target, to do that we know we need to make ongoing improvements to the offer both in terms of the product, the stores and online, and so what we have done is reorganise our teams to go after that,’’ Bailey told The Australian.
“So we are making some adjustments to the number of people we have, so when we go to the old shape to the new shape we have about 80 roles that are no longer required.”
Earlier this year, Target’s parent company, Wesfarmers, revealed Target’s earnings were under pressure from soft sales.
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