IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
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
Editors' Picks
Sponsored by
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
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
Weekly QuizJun 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
FinancialsJun 02, 2026
Signet Jewelers’ Q1 Sales Up 2% As It Focuses on ‘Core Four’ The jewelry retailer is zeroing in on Zales, Jared, Kay Jewelers, and Blue Nile as it looks to create unique brand identities for each.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design AwardsThe show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.
SourcingJun 01, 2026
RapNet Rebranding as Rapaport TradeThe revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8MThe miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
CollectionsMay 28, 2026
Meet The 17 Newcomers to Couture’s Design AtelierThese up-and-coming jewelry brands are bringing their distinct aesthetic and unique point-of-view to the Design Atelier for the first time.
