ColumnistsJan 13, 2026
2025 Was a ‘Price Up, Units Down’ Year, Here’s What That Signals for 2026 In a market defined by more selective consumers, Sherry Smith shares why execution will be independent jewelers’ key to growth this year.
MajorsMar 10, 2015
Target cuts 3,100 jobs
Target Corp. is laying off 1,700 employees and letting 1,400 positions go unfilled as it restructures to focus on digital, smaller-format stores and personalization.
After a company review and as part of a two-year transformation process to position the company for growth, Target is laying off 1,700 employees, cutting mostly at its headquarters in Minneapolis. The Target store pictured here is in Martin
Minneapolis--Target Corp. is letting go of 1,700 employees primarily from its corporate headquarters in Minnesota, as it restructures to focus on digital, smaller-format stores and personalization.
In addition to laying off employees, Target also said that 1,400 open positions won’t be filled.
Target employs about 13,000 people at its Minneapolis-area headquarters facilities, meaning the cuts represent nearly a quarter of the workforce there, and more than 350,000 people total.
“While this news is difficult, it’s important to know that we will continue to make investments in our business and team--particularly in areas such as digital, personalization, data and analytics, and engineering--to position Target for future success,” the company said in a statement issued Tuesday.
According to the Minneapolis Star Tribune, layoffs began at the senior management level last week, starting with a number of vice presidents who were let go. Though Target would not confirm details on the individuals involved, a company spokesperson did tell National Jeweler that the news "did include officers."
Last week, the retailer announced that it would begin a two-year, $2 million restructuring process that would “put Target on a clear path to growth,” according to the company. Included in this strategic shift is the goal of creating a headquarters team that is “more agile, efficient and guest-focused.”
Target also will focus on driving its omnichannel strategy, continuing with enhancements in technology, supply chain and inventory to make shopping across all channels easier for consumers. It will prioritize the style, baby, kids and wellness merchandise categories, investing in these areas to create newness and build differentiation.
Macy’s Inc. made a similar announcement earlier this year, cutting 2,500 jobs as it focuses on it omnichannel strategy, trims central office staff and closes stores.
Target said to create a more “guest-centric” experience, it will tailor inventory to more local products, with factors like demographics, climate and location driving merchandising decisions. In addition, store openings from here on out will focus on TargetExpress and CityTarget stores, which are designed for consumers in growing urban areas. The retailer will open eight of these across the country in 2015.
Since Target will provide everyone who is being laid off with a comprehensive severance package that includes more than 15 weeks of pay plus additional severance based on years of service, the cuts are expected to cost the retailer $100 million, according to an SEC filing.
Earlier this year, Target opted to
close its Canadian division after less than two years in the market, saying that it was “unable to find a realistic scenario that would get Target Canada to profitability until at least 2021.”
The closure affected 133 stores across Canada and approximately 17,600 people.
The closure affected 133 stores across Canada and approximately 17,600 people.
More on Majors
The Latest
IndependentsJan 13, 2026
Orr’s Jewelers Opens New Location in Pittsburgh’s Strip DistrictThe family-owned jeweler’s new space is in a former wholesale produce market.
CrimeJan 13, 2026
Alleged Getaway Driver Charged in Florida Jewelry Store RobberyIvel Sanchez Rivera, 52, has been arrested and charged in connection with the armed robbery of Tio Jewelers in Cape Coral, Florida.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
SourcingJan 13, 2026
Rio Grande To Offer Calibrated Diamond MeleeThe supplier’s online program allows customers to search and buy calibrated natural and lab-grown diamond melee, including in fancy shapes.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJan 13, 2026
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
EditorsJan 12, 2026
Platinum, White Gold Rule the 2026 Golden GlobesAssociate Editor Natalie Francisco highlights her favorite jewelry moments from the Golden Globes, and they are (mostly) white hot.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
GradingJan 12, 2026
Peter Yantzer, Former Executive Director of AGS Labs, Dies at 77 Yantzer is remembered for the profound influence he had on diamond cut grading as well as his contagious smile and quick wit.
MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
