January 27th, 2009 23:59 EST
Retail Discounter Target Announces Layoffs At Corporate Office
"Target Corporation announced layoffs this morning at its corporate headquarters in Minneapolis, adding to the tens of thousands of job losses that have already been announced this week.
The discount retailer would not disclose how many employees would lose their jobs, saying they first had to notify its employees. The layoffs will occur at headquarters, a spokeswoman said, and not in the company`s stores."
CHRIS SERRES, Star Tribune
It seems every time I pick up the newspaper or watch the news on TV another big company is announcing another round of layoffs.
Layoffs at financial corporations are devastating to the economy but they don`t affect us on a personal level because most of us aren`t friends with stockbrokers or investment bankers
Target is a huge discount retailer patronized by everyday people, and customers who patronize Target frequently get to know the cashiers and sales staff. This is the kind of layoff that really hits home, we know that it`s only a matter of time before the working stiffs at Target are also let go.
Just yesterday the Home Depot and Sprint Nextel announced they were cutting thousands of jobs. The economy is in shambles, and it`s only getting worse. Any one of us could be next, everyone needs to prepare for the possibility of losing their jobs. We need to have our resumes updated, save money for a rainy day, and brush up on our computer skills.
The trillion-plus dollars that have been paid out to banks and other financial institutions haven`t had much of an effect, credit is still very tight. Many companies are unable to get a line of credit to meet payroll, and they are forced to lay off their employees.
Today it`s Target employees who got the shaft, tomorrow it could be your company that`s targeted.