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Target Corp says 1700 to be laid off 1400 open jobs eliminated

MINNEAPOLIS – Target Corp. says it will lay off 1,700 workers and permanently close out another 1,400 open positions.The announcement puts a number on last week’s announcement that the U.S. retailer would eliminate several thousand jobs as part of a restructuring aimed at saving $2 billion in costs over the next two years.Target spokeswoman Molly Snyder says the cuts will come primarily at headquarters locations in the Minneapolis area, where the company employs about 13,500 people.The U.S. job cuts follow Target’s decision to pull out of Canada, shedding about 17,600 employees once the process is complete, following a disastrous foray into the company’s first international market.In January, Target chief executive Brian Cornell made the decision to close all of the company’s 133 Canadian stores in order to focus on revving up sales in the United States, where it competes in the department store segment against Walmart.Target shares fell 31 cents to $78.26 in morning trading Tuesday Chris Webley, left, one of the Target employees laid off Tuesday morning, leaves Target’s downtown Minneapolis corporate headquarters Tuesday, March 10, 2015. Target Corp. said Tuesday it is laying off 1,700 workers and eliminating another 1,400 unfilled positions as part of a restructuring aimed at saving $2 billion over the next two years. (AP Photo/Star Tribune, Glen Stubbe) MANDATORY CREDIT; ST. PAUL PIONEER PRESS OUT; MAGS OUT; TWIN CITIES LOCAL TELEVISION OUT MBO TV is soft out AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by The Associated Press Posted Mar 10, 2015 10:45 am MDT Target Corp. says 1,700 to be laid off, 1,400 open jobs eliminated in restructuring read more