BUSINESS
01/22/2014 02:44 pm ET Updated Jan 25, 2014

Target Lays Off 475 Workers At Minnesota Offices

ASSOCIATED PRESS

NEW YORK (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.

(Editing by Bernadette Baum)

HuffPost

BEFORE YOU GO

PHOTO GALLERY
9 Ridiculous Reasons To Get Fired
CONVERSATIONS