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⚠️ Active Layoffs — Updated August 2026
Target Layoffs 2026: Severance, Timeline & What to Do Now
Target eliminated approximately 1,800 corporate roles starting October 2025, then cut roughly 500 more in February 2026 — its first major layoffs in a decade. Here's what you need to know before you sign anything.
✓ Based on Target's internal memos, public reporting, and 2026 employment guidance — Updated August 2026
First Wave (Oct 2025)
~1,800
1,000 layoffs + 800 unfilled roles
Second Wave (Feb 2026)
~500
400 distribution + 100 district-level
Corporate Severance
2 wks/yr
Reported standard
Store Mgmt Severance
1 wk/yr
Reported standard
Pay Through (1st wave)
Jan 3, 2026
Plus severance after
OWBPA Applies
If 40+
21 days to review
⚠️ First Major Layoff at Target in a Decade
Target's October 2025 cuts — about 1,000 layoffs plus roughly 800 unfilled positions eliminated, an estimated 8% reduction to its corporate workforce — marked the company's first major layoff round since 2015. Given the scale and Minnesota headquarters, affected employees in bulk locations were very likely covered by state WARN-style notice requirements. If you received less than the legally required notice for your state, it's worth having an employment attorney review your situation.
🛡️ If You Are 40 or Older — Federal Law Gives You Time
The Older Workers Benefit Protection Act gives workers 40 and older at least 21 days to review any severance agreement, and 45 days if this was a group layoff. You also have 7 days to revoke after signing. Your employer cannot legally require you to sign immediately.
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The Real Severance Terms
| Component | Corporate | Store Management |
|---|
| Base severance formula | 2 weeks per year of service | 1 week per year of service |
| Timing | Oct 2025 wave: paid through Jan 3, 2026 | Feb 2026 wave: standard notice period |
| PTO payout | Accrued PTO paid out | Accrued PTO paid out |
| Career support | Outplacement services reported | Varies by role |
Two waves, two different reasons
The October 2025 cuts were framed around stagnant sales and “too many layers” slowing decisions, per incoming CEO Michael Fiddelke. The February 2026 round — 400 distribution roles and 100 store-district roles — came less than two weeks after Fiddelke officially took over, and was explicitly about reallocating resources toward in-store staffing. If you're unsure which wave your severance falls under, check the date on your notice — the terms may differ.
Your Timeline After a Target Layoff
1
Day 1: Do not sign anything yetReview your severance agreement carefully. If you are 40+, you have 21–45 days legally.
2
Day 1: File for unemploymentFile in your state as soon as possible — every day of delay is lost benefit time.
3
Within 60 days: Health insurance decisionCompare Target's COBRA offer against ACA marketplace plans at healthcare.gov.
4
Before signing: Confirm your wave and formulaOctober 2025 and February 2026 layoffs may carry different severance terms — verify which applies to you.
5
Before signing: Review non-compete and confidentiality clausesUnderstand what restrictions, if any, apply to your next role.
Other Company Layoff Guides
Severance terms based on reported employee outcomes, company memos, and employment guidance as of August 2026. Individual packages vary. This is for informational purposes only and is not legal or financial advice.