Target Is Cutting 475 Jobs From Headquarters

The Minneapolis-based company also won't fill 700 open positions, reports Adam Belz at the Star-Tribune.

The headquarters employs 12,000 people in all. Target employs 360,000 people around the world.

A laid-off employee, who wished to remain anonymous, told Belz that the positions would be "replaced by workers in India and contractors."

Target reported that sales were slowing last year because cash-strapped Americans were hesitant to go shopping. The brand's Canadian expansion was also a bigger challenge than executives planned.

Most recently, consumer perception of Target crashed after a data breach that affected millions of shoppers.