Target lays off 475 after poor holiday sales
U.S. retailer says it has cut 700 jobs worldwide in last six months
Target Corp. says it's letting go 475 employees worldwide.
The giant retailer, based in Minneapolis, also said it has eliminated 700 open positions over the last six months.
It wasn't immediately clear whether any of the positions were in Canada.
Most of the Target's employees are in the United States, where it had more than 360,000 according to a regulatory filing last year.
The move comes almost two weeks after Target lowered its fourth-quarter profit outlook as it grapples with the fallout of a massive security breach.
The company was planning on big holiday sales, but instead was victimized by the data breach that hurt its image and stock prices and sent shoppers elsewhere.
Target warned this week that the security may also have affected Canadian customers and led to their personal information being stolen.
Target moved into Canada early last year with much fanfare, but customer complaints about price differences with the U.S. and trouble keeping shelves stocked dampened enthusiasm for the retailer.
In the United States, Target also said moved this week to cut health care coverage for its part-time workers, citing new options now available through health care exchanges under the Affordable Care Act.