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Target to Scale Back on Holiday Help

The move could signal expectations for a weak season


TargetOne major retailer says it will hire fewer seasonal workers this holiday season.

Discount chain Target (TGT) says that it will only recruit 70,000 seasonal employees this year. That 18,000 fewer workers compared to last holiday season, a 20% drop, the Associated Press notes.

Target Pulls Back Canadian Expectations, Investors Shouldn’t
Target Pulls Back Canadian Expectations, Investors Shouldn’t

Target says the reduced seasonal hiring is designed to allow its permanent workers to have a better chance at getting more working hours during the holiday shopping season. It is also hoping to be more agile in adapting to changes in customer traffic during the holidays.

Retailers may also be facing a lackluster holiday shopping season this year as the economy continues to grow at a sluggish pace. Back-to-school sales were not as strong as many retailers had hoped, potentially auguring a weak holiday season.

A Target executive said the company is “getting smarter in terms of anticipating” the number of workers it needed during peak shopping periods.

Shares of Target fell almost 1% in Friday morning trading.

Article printed from InvestorPlace Media,

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