Target to cut thousands of jobs as it seeks to cut costs

New York

US retailer Target Corp, which has been battling back after a massive data breach and sluggish performance, on Tuesday said it will eliminate several thousand jobs, mainly from headquarters locations in the United States and India, as it aims to cut US$2 billion in costs over two years.

The cost-cutting forms a key plank of a revival plan outlined by chief executive officer Brian Cornell, who has sought to narrow the retailer's focus to a handful of product lines where Target believes it has an edge on quality and price while also investing to catch up with rivals online.