Target to cut $2B in costs, including several thousand jobs [View all]
Source: AP
Target Corp. is cutting several thousand jobs as part of a plan to eliminate $2 billion in costs over the next two years.
The goal: to make the Minneapolis-based discounter more agile to compete in an increasingly competitive landscape and appeal to shoppers who are buying and researching on their mobile devices.
As part of the restructuring plans, Target will eliminate positions primarily at its corporate headquarters — which employs 13,500 workers — as well as Bangalore, India. The company also will establish centralized teams based on specialized expertise.
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In extended after-hours trading, shares of Target added 19 cents to $78.19.
Read more: http://finance.yahoo.com/news/target-cut-2b-costs-including-233309210.html
Never fails. A company announces layoffs, and its stock price rises
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