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Target Lays Off 475 Workers At Minnesota Offices

Target Lays Off Hundreds
FILE - In this Jan. 18, 2008 file photo, a customer signs his credit card receipt at a Target store in Tallahassee, Fla. The U.S. is the juiciest target for hackers hunting credit card information. And experts say incidents like the recent data theft at Target's stores will get worse before they get better. That's in part because U.S. credit and debit cards rely on an easy-to-copy magnetic strip on the back of the card, which stores account information using the same technology as cassette tapes. The breach that exposed the credit card and debit card information of as many as 40 million Target customers who swiped their cards between Nov. 27 and Dec. 15 is still under investigation. (AP Photo/Phil Coale, File)
FILE - In this Jan. 18, 2008 file photo, a customer signs his credit card receipt at a Target store in Tallahassee, Fla. The U.S. is the juiciest target for hackers hunting credit card information. And experts say incidents like the recent data theft at Target's stores will get worse before they get better. That's in part because U.S. credit and debit cards rely on an easy-to-copy magnetic strip on the back of the card, which stores account information using the same technology as cassette tapes. The breach that exposed the credit card and debit card information of as many as 40 million Target customers who swiped their cards between Nov. 27 and Dec. 15 is still under investigation. (AP Photo/Phil Coale, File)

NEW YORK (Reuters) - Target Corp

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.

(Editing by Bernadette Baum)

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