The cuts come about a month after Target (Fortune 500) reported a , major breach of customer information during the holiday shopping season. Spokeswoman Molly Snyder said the cuts are unrelated to the breach.
"We believe these decisions, while difficult, are the right actions as we continue to focus on transforming our business," she said. "We will continue to invest in key business areas to strengthen our ability to compete and thrive well into the future."
The discount retailer has about 361,000 employees worldwide and more than 1,700 U.S. stores. On Tuesday, Target announced it would no longer offer health insurance for part-time employees.
|AT&T cuts prices again|
|Can Fox's reboot of 'Cosmos' find an audience?|
|Ukraine crisis: Aid, sanctions and fallout|
|Winners and losers of the bull market|
|The medical marijuana ad that never aired, despite contrary media headlines|