Target to Cut Jobs

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Minneapolis Target Corp. said that it will cut an undisclosed number of jobs in response to the weak economic environment.

"Target is taking actions to manage payroll and non-payroll expense in the current environment," the retailer said in a statement sent to Reuters.

"While we can confirm that these actions include a workforce reduction, we cannot provide additional details at this time out of respect for our team members," the company said. "We will provide more information at an appropriate time later today once we have more fully addressed the needs of our team."