Target is laying off 1,000 corporate employees and cutting 800 open roles. Michael Fiddelke, COO and incoming CEO, said the cuts were about simplification and moving faster. Target is laying off around 1,000 corporate employees and cutting another 800 open roles, the company said Thursday.

The company, whose stock price is down more than 30% this year, has struggled in the wake of high-profile controversies and increased competition.

Incoming CEO Michael Fiddelke leads Target's restructuring effort to reduce complexity and speed decision-making, cutting 8% of global headquarters team positions.

The retailer will cut about 1,800 corporate roles as part of an effort to remake its strategy after 11 consecutive quarters of falling or weak comparable sales growth.

Target Corp. is eliminating about 8% of corporate roles in its first major restructuring in years, according to a memo viewed by Bloomberg News, as the retailer seeks to reduce complexity and regain its footing.

The announcement has sparked an online debate about whether the lag is fair to employees. Experts weigh in on what is the best practice.

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