--- description: The company is restructuring to save $2 billion title: Target to Cut 'Several Thousand' Jobs Over the Next 2 Years image: https://static.time.com/v3/assets/bltea6093859af6183b/bltde8536591fd9fe40/698781f9cd1bba09256f5808/target.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Retail](/tag/retail/) ## Retail Update your preferences in [Account Settings](/account/preferences/) Close # Target to Cut 'Several Thousand' Jobs Over the Next 2 Years  by [Jack Linshi](/author/jack-linshi/)  ## Jack Linshi Update your preferences in [Account Settings](/account/preferences/) Close Mar 3, 2015 10:56 PM CUT  A sign for a Target store is seen in the Chicago suburb of Evanston, Illinois on Feb. 10, 2015. A sign for a Target store is seen in the Chicago suburb of Evanston, Illinois on Feb. 10, 2015.Jim Young—Reuters  by [Jack Linshi](/author/jack-linshi/)  ## Jack Linshi Update your preferences in [Account Settings](/account/preferences/) Close Mar 3, 2015 10:56 PM CUT Target [announced](http://pressroom.target.com/news/target-shares-roadmap-to-transform-business "undefined") on Tuesday that it plans to cut “several thousand” jobs over the next two years as part of the retail giant’s restructuring and $2 billion savings plan. The Minneapolis-based company, which employs 350,000 people globally and has roughly 1,800 box stores, said in a statement it will eliminate the positions while creating “centralized teams based on specialized expertise.” “The restructuring will be concentrated at Target’s headquarters locations and focus on driving leaner, more efficient capabilities, removing the complexity and allowing the organization to move with greater speed and agility,” the statement continued. The savings are intended to drive sales and earnings growth as the company recovers from the 2007-08 financial crisis and [a major data breach in late 2013](http://time.com/3086359/target-data-breach-loss/ "undefined"), while investing heavily in technology to [improve its e-commerce offerings](http://fortune.com/2015/03/03/target-layoffs/ "undefined"). ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3730915/target-jobs-restructuring/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3730915/target-jobs-restructuring/"},"headline":"Target to Cut 'Several Thousand' Jobs Over the Next 2 Years","datePublished":"2015-03-03T22:56:10.000Z","dateModified":"2026-02-22T04:53:18.870Z","description":"The company is restructuring to save $2 billion","url":"https://time.com/3730915/target-jobs-restructuring/","keywords":["Retail","Target","Companies"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/bltde8536591fd9fe40/698781f9cd1bba09256f5808/target.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Jack Linshi","jobTitle":null,"url":"https://time.com/author/jack-linshi/"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/bltde8536591fd9fe40/698781f9cd1bba09256f5808/target.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"A sign for a Target store is seen in the Chicago suburb of Evanston, Illinois on Feb. 10, 2015.","caption":"A sign for a Target store is seen in the Chicago suburb of Evanston, Illinois on Feb. 10, 2015.","creditText":"Jim Young—Reuters","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/retail/","name":"Retail"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/3730915/target-jobs-restructuring/","name":"Target to Cut 'Several Thousand' Jobs Over the Next 2 Years"}}]},{"@context":"https://schema.org","@type":"VideoObject","name":"Keep cash for a rainy day","description":"Expert recommends keeping three months worth of expenses in checking and another three months in cash-like investments.","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/4ZaNtRJF/poster.jpg?width=720","uploadDate":"2014-06-01T04:28:11.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/4ZaNtRJF.m3u8","embedUrl":"https://time.com/3730915/target-jobs-restructuring/","duration":"PT1M57S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/3730915/target-jobs-restructuring/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}}] ```