{"id":89887,"date":"1999-12-31T00:57:00","date_gmt":"1999-12-30T13:57:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/extremely-difficult-time-troubled-target-chop-staff\/"},"modified":"1999-12-31T00:57:00","modified_gmt":"1999-12-30T13:57:00","slug":"extremely-difficult-time-troubled-target-chop-staff","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/extremely-difficult-time-troubled-target-chop-staff\/","title":{"rendered":"Extremely Difficult Time: Troubled Target Chop Staff"},"content":{"rendered":"

Wesfarmers-owned retailer cuts over 250 jobs as sales slumps


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<\/DIV>Target slashed 260 jobs on June 12 as part of an organisation restructure to “help restore business performance.” <\/p>\n


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The job cuts will be made at Target’s support centre in Geelong, Victoria  and regional support locations, it said in a statement today, blaming “sales and profit under-performance.”<\/SPAN><\/DIV><\/p>\n


<\/DIV><\/p>\n

After completing a review of store support functions, management will implement new organisational structure to help restore business performance. <\/DIV><\/p>\n


<\/DIV><\/p>\n

“This is an extremely difficult time for our team and, unfortunately, we’ll be losing many great team members,” Target MD Stuart  Machin said. <\/DIV><\/p>\n


<\/DIV><\/p>\n

 “With our sales and profit under-performance over the past 12 months, we have needed to act in order to get our costs under control and the right store support structure in place.” <\/DIV><\/p>\n


<\/DIV><\/p>\n

“With our sales and profit under-performance over the past 12 months, we have needed to act in order to get our costs under control and the right store support structure in place.”<\/DIV><\/p>\n


<\/DIV><\/p>\n

Target’s Geelong operation currently employs 1000. <\/DIV><\/p>\n


<\/DIV><\/p>\n

Staff were cut in contract procurement, marketing, corporate affairs and store design, reports The Age. <\/A><\/DIV><\/p>\n


<\/DIV><\/p>\n

The restructure comes after the discount retailer cut its earnings forecast to $140m- $160m for ’12-13 financial year.<\/DIV><\/p>\n


<\/DIV><\/p>\n

<\/p>\n
 <\/div>\n

Possible staff cuts first surfaced last week.<\/DIV><\/p>\n


<\/DIV><\/p>\n

Machin said that team members leaving the business will receive their full entitlements, and will also be given support and information services, including career transition support. <\/DIV><\/p>\n


<\/DIV><\/p>\n

Target will also explore redeployment opportunities wherever available.<\/DIV><\/p>\n


<\/DIV><\/p>\n

Wesfarmers also the owner of Coles, shares slumped 1.16% to $37.4 today. <\/DIV><\/p>\n","protected":false},"excerpt":{"rendered":"

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