New Target CEO Reshapes Leadership, Cuts 1,800 Corporate Roles

Target Corp’s Chief Executive Officer, Michael Fiddelke, has launched a sweeping leadership and staffing restructuring aimed at simplifying operations and reviving growth after several years of sluggish performance. As part of the shake-up, the retail giant will eliminate around 1,800 corporate roles, including approximately 1,000 layoffs and 800 unfilled positions, representing nearly 8% of its corporate workforce.

Key Highlights

• New CEO initiates sweeping leadership overhaul to boost efficiency, streamline operations, and accelerate business transformation.
• Target to cut 1,800 corporate roles as part of strategic restructuring to drive long-term growth.

In a memo circulated to headquarters staff, Fiddelke said the company had accumulated too many management layers and overlapping responsibilities, which had slowed decision-making and hindered innovation. The restructuring is designed to streamline operations, enhance agility, and accelerate execution, allowing teams to focus more effectively on strategic priorities.

The leadership reshuffle comes after Fiddelke officially assuming the CEO role on February 1, 2026, succeeding longtime chief executive Brian Cornell. Fiddelke, who joined Target as an intern in 2003 and rose through the ranks to become Chief Operating Officer, has emphasized organizational efficiency and accountability as central pillars of his leadership agenda.

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Target has faced mounting challenges in recent years, including soft consumer demand, inventory management issues, and intense competition from both brick-and-mortar and online rivals. The company has also undertaken efforts to modernize its business model through technology adoption, supply-chain optimization, and operational simplification.

Employees affected by the restructuring are being notified individually, while the company works to finalize its revised operating framework. Market observers view the leadership shake-up as a decisive move to reposition Target for long-term growth, signaling a renewed focus on productivity, speed, and customer-centric innovation.