Archived Target to cut expenses: Hq, Stores, dc

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I'm surprised this hasn't been discussed yet. Target is falling way short of forecast and earnings projections. They have downgraded earning in both the 1st q, and now the 2nd q, causing the stock to drop about 10pts in two weeks.

This has lead to the executives touting that cost need to be cut from the operations. Operations in the u.s are already running on skeleton crews.

Some of the measures already being discussed...
Payroll cuts
Freezing pay increases
Freezing field and support level promotions and hirings
Elimination of certain positions considered non essential
Elimination of bonus programs
Reduction of recognition programs or celebrations
Reduction of social programs
Further reduction of Ap teams
 
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I feel like I should of jumped ship sooner. Hopefully things will get back on track but currently my my team is down to 115 hours, when we were at 170. There's simply no way to keep up with our current workload. My shelves are empty on our off days and they wonder why we keep missing sales...
 
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I feel like I should of jumped ship sooner. Hopefully things will get back on track but currently my my team is down to 115 hours, when we were at 170. There's simply no way to keep up with our current workload. My shelves are empty on our off days and they wonder why we keep missing sales...

So is this payroll gutting happening everywhere? My team's hours are being cut by ~35% next week as well.
 
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Konk, your looking at it in a very small micro level, while they may be calling you in today because bts, btc sales are probably doing well in your store. Come September when their are no holidays or major shopping events you will feel the pain. We just did forecast allocations for September and they look horrible about ~8% hours cut across the board get ready to have very minimal payroll to achieve much.
 
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Our BR team doesn't take lunches and they don't schedule anyone from 11-4 on non-truck days. Of course the morning person has to stay to pull, so not saving anything there. I'm glad she's getting hours though.
 
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I'm surprised this hasn't been discussed yet. Target is falling way short of forecast and earnings projections. They have downgraded earning in both the 1st q, and now the 2nd q, causing the stock to drop about 10pts in two weeks.

This has lead to the executives touting that cost need to be cut from the operations. Operations in the u.s are already running on skeleton crews.

Some of the measures already being discussed...
Payroll cuts
Freezing pay increases
Freezing field and support level promotions and hirings
Elimination of certain positions considered non essential
Elimination of bonus programs
Reduction of recognition programs or celebrations
Reduction of social programs
Further reduction of Ap teams

Does this have to do with the article on target canada and how guests were only 27% satisfied with guest service? They were the lowest ranked retailer listed. Said canada wasnt reaching projections because of the poor service skills of angry zellers employees that stayed.
 

GlobalJ

Electronics TM
Joined
Aug 14, 2012
Messages
430
I'm surprised this hasn't been discussed yet. Target is falling way short of forecast and earnings projections. They have downgraded earning in both the 1st q, and now the 2nd q, causing the stock to drop about 10pts in two weeks.

This has lead to the executives touting that cost need to be cut from the operations. Operations in the u.s are already running on skeleton crews.

Some of the measures already being discussed...
Payroll cuts
Freezing pay increases
Freezing field and support level promotions and hirings
Elimination of certain positions considered non essential
Elimination of bonus programs
Reduction of recognition programs or celebrations
Reduction of social programs
Further reduction of Ap teams

Does this have to do with the article on target canada and how guests were only 27% satisfied with guest service? They were the lowest ranked retailer listed. Said canada wasnt reaching projections because of the poor service skills of angry zellers employees that stayed.

Angry Canadians?! That's possible?!?
 
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May 31, 2013
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Yeah I heard Target Canada is a big bust... put alot of money and emphasis up there, and now lots of changes upcoming to I assume help recoup, along with overall sales being down?
 

doxie71

Former Perishables Assistant
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Jun 14, 2013
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Awesome....my store has recently started to beat sales after a rough few weeks...the fun times of being a new store and our sales being forecasted high for ALL of BTS. Of course we have been losing TMs left and right and only have a few new hires... not sure if I should be worried or not. Moving areas, going to be in Pfresh, there are only a few of us PAs...
 
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P-fresh and then Target Canada were both at one point suppose to be the magic bullets that turned things around and instead have both become money pits that barely add to the bottom line. You know what the magic bullet is? Well staffed stores with happy motivated employees. To bad Target has decided to go the opposite way. Poorly staffed stores with pissed off employees.
 

commiecorvus

Former Signing Ninja
Staff member
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I am feeling the hours are being cut, already, at my store.

And since they had already cut back on staff to pay for the expansion in the first place creates a state of constant whitewater that I just can't see them getting away from without completely changing brand of the stores.
They will no longer be "customer (no I'm not calling them guests) orientated" and just go to being self serve.
 
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Messages
473
We've been cutting hours for the past year at my store, so I can't even fathom what MORE cuts are going to mean. And yet it seems like every time they slash our payroll, they raise our expectations. How deep of a hole do they have to dig before they realize how much damage they're doing to themselves?
 
S

spotsbane

Guest
Target is making more than Microsoft. Profits are higher than ever before. The cutting of hours is to see what the corporation can get away with. Business management in college now teaches these children that inefficient employees are more cost productive. Smaller raises, smaller wages.

My store developed more profit than the previous years after every year of my employment went by. The numbers are not hidden. Time to wake up. Government stopped caring a long time ago and every other corporation is going to follow this pattern and if they haven't yet they soon will.

Start protesting in the streets or start sleeping in them.
 
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My schedule for the next two weeks is about 19 hours. I had to pick up a day here and there (although my team only will give up weekends and Tuesdays). I imagine this cut back is also due to some bad decisions on the part of the company. Didn't we already pay for it earlier this year from the Neiman Marcus/Overexpansion crap?
 
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Corporate should run HQs how it runs its stores. Lay off everyone except CEO and VPs.
 
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I'm surprised this hasn't been discussed yet. Target is falling way short of forecast and earnings projections. They have downgraded earning in both the 1st q, and now the 2nd q, causing the stock to drop about 10pts in two weeks.

This has lead to the executives touting that cost need to be cut from the operations. Operations in the u.s are already running on skeleton crews.

Some of the measures already being discussed...
Payroll cuts
Freezing pay increases
Freezing field and support level promotions and hirings
Elimination of certain positions considered non essential
Elimination of bonus programs
Reduction of recognition programs or celebrations
Reduction of social programs
Further reduction of Ap teams

F this company... Theres literally nothing I can think that would be good for the company to downsize in AP. Now what. No TPS's?
 
Joined
Jun 13, 2011
Messages
498
My schedule for the next two weeks is about 19 hours. I had to pick up a day here and there (although my team only will give up weekends and Tuesdays). I imagine this cut back is also due to some bad decisions on the part of the company. Didn't we already pay for it earlier this year from the Neiman Marcus/Overexpansion crap?

Target Canada is costing more than the expected and making less than they hoped. (just like P-fresh). On top of that it is ranked dead last in costumer satisfaction. I am sure a cutting more hours so the shelves are more empty, nobody is on the floor to help people find anything, and a long line at the one cashier will solve that.
 
Joined
Jun 21, 2011
Messages
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F this company... Theres literally nothing I can think that would be good for the company to downsize in AP. Now what. No TPS's?

You nailed it. AP will be gone within 2 years, except for high theft stores. BP's and some ETL/TL's next year. 2015 will be the year that most stores loose the TPS roll that we know now.
 
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