Prof. Vaaler Comments on Layoffs at Target HQ Following Decision to Close Canadian Stores

Professor Paul M. Vaaler commented on Fox9 News on Target's announcements today and last month to lay off more than 700 employees after deciding to close all stores and related operations in Canada in mid-January 2015. Vaaler commented on the signal these lay-offs send to Target shareholders concerned with the strategic direction of the company under new Target CEO Brian Cornell. The layoffs affect employees at Target's Minneapolis headquarters offices and at the retailer's India-based offices. The layoffs are likely focused on personnel involved in Target's Canada operations, thus signalling a speedier post-closure retrenchment and accountability for poor execution on the Canada expansion. The recency of Cornell's arrival as CEO likely insulates him from blame for Target's misadventure, which will likely cost the Minneapolis-based company more than $1 billion over the next few years.