Target Restructuring: 1,800 Corporate Layoffs Under New CEO Michael Fiddelke
#target #layoffs #restructuring #retail #management
Target announces 1,800 corporate layoff to streamline operations under new CEO Michael Fiddelke.
Michael Fiddelke is an American business executive and incoming CEO of Target Corporation, set to assume the role from Brian Cornell on February 1, 2026[1][3]. A native of Iowa and graduate of the University of Iowa with a Bachelor of Science in industrial engineering, Fiddelke also holds an MBA from Northwestern University’s Kellogg School of Management[1][2]. Before joining Target, he spent three years at Deloitte Consulting[2]. Fiddelke began his career at Target as an intern in 2003, marking the start of a two-decade ascent through the company[1][4][7]. Over the years, he held key leadership roles across finance, merchandising, operations, and human resources, demonstrating a comprehensive understanding of the retail giant’s operations[1][3]. Notably, he served as Target’s Chief Financial Officer (CFO) from 2019 to 2024, during which he was credited with delivering more than $2 billion in efficiencies through financial planning and analysis[1]. As Chief Operating Officer (COO), he oversaw significant investments in scaling Target’s stores, supply chain, and digital capabilities, contributing to the company’s exponential growth[1][3]. Throughout his tenure, Fiddelke has been recognized for his resolve in navigating complex challenges, his passion for growth, and his ability to inspire teams[3]. He is known for advocating innovation, simplifying operations, and accelerating performance, as well as for his focus on team development and leadership[3]. Outside of Target, he serves on the board of the Minnesota Children’s Museum[2]. Fiddelke’s promotion to CEO was announced in mid-2025, positioning him as a central figure in Target’s next chapter[3][4]. He has recently shared advice for early-career professionals, emphasizing curiosity, flexibility, and kindness as keys to success—reflections drawn from his own journey from intern to CEO[4]. At 49 years old, Fiddelke’s career exemplifies a trajectory of steady advancement within a single organization, underscored by operational expertise and a commitment to corporate and community leadership[1][6]. His upcoming transition to CEO is widely viewed as a testament to both his deep institutional knowledge and his readiness to guide Target through its future challenges and opportunities[1][3].
#target #layoffs #restructuring #retail #management
Target announces 1,800 corporate layoff to streamline operations under new CEO Michael Fiddelke.