Fox Business | 1 hour ago | Finance
As part of a fresh strategic approach to business, the retail giant Target intends to lay off 500 employees in its office and supply chain divisions. This decision comes by the direction of the company's CEO, Michael Fiddelke, and is part of a larger shift in the company's operational strategy.
The policy of downsizing within its administrative and supply chain workforce is aimed at cost-cutting and streamlining operations. These cuts will allow the company to reinvest resources in its frontline store staff. This shift reflects a growing recognition of the importance of frontline workers in driving company performance and customer satisfaction.
CEO Michael Fiddelke's turnaround plan is rooted in providing a better in-store experience for customers. The idea is to prioritize the roles of workers who have direct contact with customers. By improving the quality of service in stores, Target aims to boost customer satisfaction and, in turn, increase its revenues.
In summary, this move by Target is a strategic realignment of resources. The focus is shifting from its office and supply chain personnel towards the frontline store staff, pushing the firm towards a more customer-centric approach. These changes signal a new direction for the company under the leadership of CEO Michael Fiddelke.