Target plans $2b in cost-cutting moves

FILE - In this May 20, 2009 file photo, shopping baskets are stacked at a Chicago area Target store. (AP Photo/Charles Rex Arbogast, File)

NEW YORK (AP) — Target Corp. plans $2 billion in cost cuts over the next two years through corporate restructuring and other improvements.

The goal: to make the Minneapolis-based discounter more agile to compete in an increasingly competitive landscape.

The moves unveiled Tuesday are being spearheaded by CEO Brian Cornell, who took over last August and who is charged with reclaiming the retailer’s image as a purveyor of cheap chic fashions.

Comments are closed.