Becker Business Podcast: "Target Attacks Layoffs"

Host: Scott Becker
Episode Date: October 24, 2025

Episode Overview

In this brief episode, Scott Becker focuses on the recent developments at Target Corporation, specifically their announced layoffs and ongoing financial challenges. He provides context on Target’s struggles, discusses the impact and motivations behind these layoffs, and shares his insights on the state of the retail landscape.

Key Discussion Points & Insights

Target’s Performance Decline

• Target Corporation, once a retail powerhouse, has faced significant financial downturn in recent years.
• Key statistics illustrating Target’s struggles:
  • Down 30% over the past year
  • Nearly 40% down year-to-date (52 weeks)
  • Losses of 41% over the last five years
  • [00:16] "Target was so hot for so long and then over the last year, the last couple of years, it's down 30%. Year to date, it's down almost 40% over the last 52 weeks. Target's really been struggling. Even in the last five years it's down 41%." — Scott Becker

Major Layoff Announcement

• Target announced a significant round of layoffs: 1,800 worker positions, mainly in corporate roles.
• The move is intended to help restore profitability and possibly redirect efforts toward better merchandising.
• [00:32] "It announced yesterday that's going to hit the layoff button hard and get rid of 1800 workers. A lot of those [are] corporate jobs as it tries to probably hopefully they get back to profitability or put more money into better merchandising." — Scott Becker

Shifting Consumer Magnetism & the Retail Challenge

• Becker reflects on the changing perception of Target as a “magnet” consumer destination.
• He notes the once-strong allure of Target is fading, coinciding with stagnant sales and reduced consumer excitement.
• [00:49] "What's so interesting about retail is all of us are consumers one way or another. And we could tell when stores stop being quite the magnet to go for that they used to be. Target is one of those stores really a magnet to go to. Now it seems like there's no reason or no excitement to go to Target." — Scott Becker

Attempting a Turnaround

• The hope is that these layoffs and ongoing restructuring will stabilize Target by improving efficiency and profitability.
• Becker expresses both skepticism and curiosity about the company’s prospects:
• [01:10] "They're trying to fix that. At least they're trying to fix their profitability and efficiency. We'll see if they're able to do so, but just absolutely fascinating to watch." — Scott Becker

Notable Quotes

• On Target's decline:

  "It seems like it was on fire for some period of time. Now it seems very soft."
  — Scott Becker [01:02]

• On the changing retail landscape:

  "All of us are consumers one way or another. And we could tell when stores stop being quite the magnet to go for that they used to be."
  — Scott Becker [00:49]

Important Segment Timestamps

• 00:16 – Target’s recent and long-term stock performance
• 00:32 – Details of the layoff announcement
• 00:49 – Reflections on Target’s fading consumer appeal
• 01:10 – Outlook and Becker’s closing thoughts

Summary

Scott Becker succinctly unpacks the dramatic decline of Target Corporation's performance, citing striking statistics and the recent layoff of 1,800 corporate staffers as a bid to drive efficiency and profitability. He links these internal moves to a broader shift in retail, where brands like Target must fight to recapture customer excitement. As Becker puts it, Target’s trajectory from “on fire” to “very soft” is a telling snapshot of the pressures facing major retailers today.