Target reorganizes strategy team, trims roles under new CEO’s efficiency push

Retail giant Target has restructured its strategy team, eliminating some positions as part of a broader push to streamline operations and improve efficiency under CEO Michael Fiddelke. The changes, outlined in an internal memo, aim to better align resources, reduce duplication, and optimize talent deployment. Affected employees are being assisted in finding new roles within the company. The reorganization reflects Target’s ongoing efforts to reverse a multiyear slump, with the retailer accelerating cost cuts and operational adjustments since Fiddelke took over in February. Investors have responded positively, with Target’s shares surging more than 30% this year. The company has also implemented role reductions across other departments and required some remote workers to relocate to its Minneapolis headquarters. Target reported strong quarterly results in May but warned of tougher comparisons ahead amid rising gas prices, inflation concerns, and intensified competition from Walmart and Costco, which continue to gain market share. A company spokesperson confirmed the accuracy of the memo but declined further comment.