Retailer Target Corp. cuts 85 jobs in marketingRetailer Target Corp. is cutting 85 jobs from its marketing department.
MINNEAPOLIS (AP) — Retailer Target Corp. is cutting 85 jobs from its marketing department.
The Minneapolis company says in a statement Thursday that the move was part of its normal practices of re-evaluating all areas of the company.
The company says the affected employees will receive full pay and benefits through Dec. 14. Then they'll receive severance, a year of health care benefits and assistance looking for new jobs.
Target has been reducing staff, tightening consumer credit card underwriting, and paring down inventory in the recession.
Although discounters have benefited from consumers switching to cheaper stores and focusing on necessities in the recession, Target has been hurting because much of its revenues comes from fashionable nonessentials like home decor and clothing.