Retail giant Target is cutting 1,800 corporate jobs in its first major layoff in a decade to simplify operations and boost sales. Incoming CEO Michael Fiddelke says the move is necessary to streamline decision-making. The cuts affect 8% of the corporate workforce, with impacted employees receiving pay, benefits, and severance packages.

The layoffs, which do not affect store or supply chain roles, come as Target struggles with declining sales and investor skepticism. The company’s shares have dropped significantly this year, and it faces challenges from weak demand for apparel and electronics, as well as pressure from U.S. tariffs on imports. Fiddelke, an insider, was criticized for his appointment as CEO in August.

Read more at Yahoo Finance: Target to cut 1,800 corporate roles in turnaround effort