Target to Cut Thousands of Jobs in $2B Growth Strategy

Target plans to invest billions of dollars this year streamlining operations, opening more small stores and creating a product mix designed to appeal to a younger, broader consumer demographic. The retailer will also cut several thousand jobs in the next two years as part of a cost-savings plan, Target managers said at a meeting Tuesday with financial analysts and investors. The company didn't say how many of its employees will be cut, although most are expected to be at the company's Minneapolis base, where it employs 13,000.