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Target Corp. (NYSE: TGT) has indicated that it will slice 9% of its headquarters staff as the retailer continues to weather the economic downturn and uncertainty in 2009's performance. This week has seen companies from every industry cuts tens of thousands of jobs. In what is starting to infiltrate the headquarters of many companies, it's not just for store workers or front-line folks any longer.

Target also said it would cut back on new store openings this year in addition to closing down a distribution center for an unspecified time. At its headquarters in Minnesota, 600 positions will be let go and the company will cancel plans to hire for an additional 40 positions. In Arkansas -- just down the street from the headquarters of rival Wal-Mart Stores, Inc. (NYSE: WMT), Target will close a distribution center and put another 500 people out of work.

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Target layoffs at headquarters; it's not just store employees getting axed originally appeared on BloggingStocks on Thu, 29 Jan 2009 13:15:00 EST. Please see our terms for use of feeds.

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