AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
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
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
SourcingMay 15, 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.
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.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
Weekly QuizMay 14, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
SourcingMay 14, 2026
State of Colored Stones: The Spirit of Young American Gemstone CuttersThe next generation of lapidarists are entrepreneurial, engaged online, and see the craft as a means for artistic expression.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
SourcingMay 13, 2026
Smithsonian Acquires ‘Winston Red’ Diamond PaintingReena Ahluwalia’s painting of the rare red diamond is the first contemporary painting to join the National Gem Collection.
TrendsMay 13, 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.
ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 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 & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
