Target Corp. to Shut Down Operations in Canada

This article was last updated on April 16, 2022

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Target Corp. has announced in a press statement issued on Thursday that it will soon start to shut down its operations in Canada as it alleged that Minneapolis based company is prepared to make a “fair and orderly” exit just less than two years after it expanded north. According the announcement on Thursday, the company spokesperson said that the move will wind up the mismanaged expansion that cost billions in losses.

Target spokesman, Eric Hausman, failed to provide an exact number of employees that would be affected by the move. However, he did confess that each store employs between 100 and 150 staff and since there are a total of 133 Target stores in Canada, approximately 2,500 Target workers are expected to be laid off in B.C. Hausman stressed that Target plans to provide employees with 16 weeks of payments and benefit coverage. The company mentioned that its Canadian division is seeking court approval to begin liquidation.

Target Corp.’s CEO, Brian Cornell, stressed that making the Canada unit profitable remained our top priority since day one even though it had already lost more than $2 billion in operation since 2011. He explained that since taking office in August, he spent time daily at the company operations in the country but “we were unable to find a realistic scenario that would get Target Canada to profitability until at least 2021.” In his remarks, Cornell mentioned on Thursday that “this was a very difficult decision, but it was the right decision for our company.”

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