target corp (TGT) Key Developments
Target Corporation Appoints Anu Gupta as Senior Vice President, Operational Excellence, Effective October 12, 2015
Sep 24 15
Target Corporation announced the appointment of Anu Gupta to the role of senior vice president, operational excellence. In this role, which is new to Target, Gupta will lead a dedicated team in simplifying and optimizing processes across the business to help the retailer become more agile in anticipating and meeting guests’ needs. She will report to John Mulligan beginning October 12, 2015. Mulligan was recently elevated to the position of Target’s first chief operating officer. Gupta brings more than 20 years of expertise in driving operational excellence, leveraging global operating models including outsourcing, procurement, lean six sigma process redesign and corporate development across diverse industries, including retail.
She joins the company from private equity investment firm Hellman & Friedman, where she was senior operating executive with oversight for improving business processes and productivity across its portfolio companies.
Court OKs Class-Action Case Against Target over Data Breach
Sep 16 15
A federal judge approved a class-action lawsuit against Target Corp. by several banks who said they were hurt by the retailer's data breach in 2013. Target has been fighting the class-action case for more than a year, even as it tries to work out separate settlements with financial institutions like Visa and MasterCard (the MasterCard settlement fell apart in May when too few banks agreed to it).
Target Corporation Declares Regular Quarterly Dividend, Payable on December 10, 2015
Sep 11 15
The board of directors of Target Corp. has declared a quarterly dividend of 56 cents per common share. The dividend is payable December 10, 2015 to shareholders of record at the close of business November 18, 2015.
Target Corp. Cuts 245 Workers at Minneapolis Corporate Headquarters
Sep 1 15
Target Corp. has let go another 245 employees at its downtown Minneapolis corporate headquarters. The company confirmed that the latest round of job cuts primarily affects technology workers, like those in the business analysis and project management divisions. It would let go of another 40 workers in India and wouldn't fill 35 open positions. It would continue to hire elsewhere in its technology department, including engineers and engineering managers.
Target Lays Off Another 235 Twin Cities Workers
Aug 31 15
Target laid off another 235 headquarters employees. The company has now laid off nearly 2,100 Twin Cities workers since March. As part of this latest round of cuts, the company also laid off 40 employees outside the Twin Cities and eliminated 35 vacant positions. Most of the affected positions were in the company's technology teams, such business analysis and project management.