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The New York Times reports that Target has announced that it will eliminate several thousand jobs over the next 24 months, mostly at headquarters level, "as it struggles to overcome a string of difficult years."

According to the story, "The fresh job cuts at home are part of an effort to save $2 billion over the next two years, from a combination of corporate restructuring at its headquarters, leaner supply chains and more efficient product sourcing, Target said in a statement. The company will set up centralized teams at its headquarters that will tackle specific areas of the business, like analyzing shopper data. And it will reinvest $2 billion to $2.2 billion in its business, including $1 billion in technology and improvements to the supply chain."

The move is consistent with a series of decisions by CEO Brian Cornell aimed at making the company more efficient and effective - closing down its Canadian stores (which generally were conceded to be a debacle), improving its food selection, and working to regain consumer trust after a data hacking incident that put the personal and financial data of its customers at risk.
KC's View:
Target has a long way to do, but one gets the sense that Cornell has a vision for what the retailer needs to be, the narrative it needs to communicate, and a sense of the path that the company needs to take to get there. Which is certainly a good beginning.