The spectre of more job cuts is looming after Target conceded it had made a number of “team changes” at its Geelong head office as part of a performance review.
Media reports on Thursday morning suggested the struggling national retailer was set to cut “hundreds of jobs” after wielding the axe in its marketing department last week.
The retailer reported a profit downgrade last month, flagging a possible second half year loss of up to $8 million.
Target also has its third chief executive in two years with Stuart Machin taking over from Dene Rogers two months ago.
A Target spokesperson said all aspects of the business were under review.
“(We) have taken a number of actions to turn around Target’s performance.
“There have already been a number of team changes as part of this review, and more changes are likely.
“However, we will work these through with the Target team, and they will be kept informed of any changes that may arise.”
Industry reports say the retailer is struggling with excess stock, shop theft and poor sales with the late start to winter.
