Target cuts 475 jobs in Minnesota offices, spokeswoman says
NEW YORK Jan 22 (Reuters) - Target Corp is cutting 475 jobs at its offices in Minnesota, where it is based, a spokeswoman for the third-largest U.S. retailer said on Wednesday.
The retailer has a total global headcount of 361,000 and employs about 14,000 at its headquarters and related offices in Minnesota.
The news comes just weeks after the Minneapolis, Minnesota-based company forecast weak results for the holiday season, during which it fell victim to a cyber attack that led to the theft of some 40 million payment card numbers and the personal data of 70 million customers.
In early January, the retailer cut its fourth-quarter profit forecast, in part due to weaker-than-expected sales since reports of the cyber-attack emerged in mid-December.
"We believe these decisions, while difficult, are the right actions as we continue to focus on transforming our business," Target spokeswoman Molly Snyder said.
- Tesla prevails in top Massachusetts court over direct sales
- Obama to send 3,000 troops to tackle Ebola
- World stocks hit one-month low, caution ahead of Fed
- Russia needs government investment to avoid recession, says former finance minister
- Ahead of independence vote, Britain pledges state funding to Scotland