Dayton seeks urgent Target meeting as thousands fear for their jobs in Minneapolis

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Governor Mark Dayton urgently wants to meet with Target's CEO following the retailer's announcement it will cut "several thousand" jobs at its headquarters in Minneapolis.

Target revealed on Tuesday that roles would be slashed in part of a $2 billion cost-cutting initiative, as the company continues its recovery following a challenging period that included the data breach scandal and its withdrawal from Canada.

According to the Associated Press, Dayton was not given advance warning of the job cuts, which usually happens with major state-based corporations, and wants to speak directly with CEO Brian Cornell about its commitment to the state and where the jobs axe will fall.

He described the layoffs – most of which will come from the 13,000-plus employed at its Minneapolis HQ – as "tragic," AP notes.

As well as making savings, Target has revealed plans to invest more heavily in tech and e-commerce, overhaul its food offering, and focus more intently on its signature departments: style, wellness, kids and baby.

How will it impact Minneapolis?

While no definite figures on job cuts have been mentioned yet, the use of "several" suggests at least 2,000 will go, and the Business Journal points out that downtown Minneapolis is where most of Target's Twin Cities staff are based (10,000).

The website says that slashing part of this workforce will have a knock-on effect for downtown restaurants, stores, parking lots and sporting/entertaining events.

The Pioneer Press notes that increase competition for jobs in the downtown area, but also presents an opportunity for other businesses to get their hands on skilled and experienced employees.

Meanwhile MPR has focused on the surge in Target's share price following yesterday's announcement, with retail experts applauding the decision to make the company more "nimble" and "agile" – words Cornell used during Tuesday's announcement.

But for all the applause from investors and shareholders, the radio station said thought should be spared for the thousands of Minnesotans who will be out of work because of Target's "transformation."

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