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Target cuts 475 jobs in Minnesota offices, spokeswoman says

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Target cuts 475 jobs in Minnesota offices, spokeswoman says
Willmar Minnesota 2208 Trott Ave. SW / P.O. Box 839 56201

NEW YORK (Reuters) - Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) is cutting 475 jobs at its offices in Minnesota, where it is based, a spokeswoman for the third-largest U.S. retailer said on Wednesday.

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The retailer has a total global headcount of 361,000 and employs about 14,000 at its headquarters and related offices in Minnesota.

The news comes just weeks after the Minneapolis, Minnesota-based company forecast weak results for the holiday season, during which it fell victim to a cyber attack that led to the theft of some 40 million payment card numbers and the personal data of 70 million customers.

In early January, the retailer cut its fourth-quarter profit forecast, in part due to weaker-than-expected sales since reports of the cyber-attack emerged in mid-December.

"We believe these decisions, while difficult, are the right actions as we continue to focus on transforming our business," Target spokeswoman Molly Snyder said.

(Editing by Bernadette Baum)

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