Target: Seeing Red

You know times are tough when discount-retailers cut jobs; Earning not on Target

Target Inc. announced today they would be cutting an undisclosed number of jobs because of the weakening economy.

The Minneapolis-based retailer has faced declining sales as consumers cut back on discretionary spending. The initial cut-backs are expected to be limited to headquarter staff positions but the company would not rule out further cuts

The second largest discount retailer behind Wal-Mart, Target is the 31st largest corporation on the Fortune 500 list in 2008. Target operates one store in Elk Grove on Laguna Blvd. and has been rumored to be pursued by Chicago based General Growth Properties as an anchor for it's Elk Grove Promenade Mall.