00:00It's Benzinga bringing Wall Street to Main Street.
00:02Target said Monday it will increase staffing in stores while cutting about 500 jobs across
00:07distribution centers and regional offices as it works to improve customer experience,
00:12according to CNBC. An internal memo obtained by CNBC said the retailer will reduce the number
00:17of store districts and shift more payroll toward frontline store employees. The layoffs include
00:23about 100 district-level roles and about 400 positions across supply chain sites.
00:28Target said the changes aim to address complaints about empty shelves, checkout delays, and in-store
00:33execution. The move marks an early organizational shift under CEO Michael Fiddlekey, who took the
00:39role on February 1st. Target said store wages will remain $15 to $24 per hour, depending on location.
00:47The company plans to outline more details on March 3rd.
00:50For all things money, visit Benzinga.com.
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