Retail chain Target is likely to lay off 200 backoffice staff in response to floundering profits, the Sydney Morning Herald reports.
Parent company Wesfarmers last month issued a profit downgrade that could lead to anything between an $8 million loss and $12 million profit for H2 2013.
According to the SMH, Target laid off staff from its marketing department last week, and could embark on a wider restructure that will “see a greater emphasis on direct sourcing and squeezing the supply chain”, as with sister company Coles, the SMH reports.
Target boss Stuart Machin was director of Coles’ store development and operations before joining Target in April.
More on the SMH.
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