Target Corp.
Target plans $2 billion in cost cuts

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. As part of the restructuring plans, the Minneapolis-based company plans to eliminate several thousand positions over two years and establish centralized teams based on specialized expertise. Target also plans to invest between $2 billion and $2.2 billion in capital expenditures, including a $1 billion investment in technology and supply chain. The moves unveiled Tuesday are being spearheaded by CEO Brian Cornell, who took over last August and who...