Target to cut thousands of jobs

NEW YORK — Target will cut “several thousand” jobs over the next two years, CEO Brian Cornell told investors last week. The retailer plans to invest billions of dollars this year streamlining its operations and building small stores, while cutting down on personnel costs. The company gave no hard numbers, but the bulk of the redundancies are expected to be at its Minneapolis headquarters. Target’s business strategy will include a focus on City Target and Target Express stores, as well as more fresh food in grocery lines.