Target will lay off 1,000 corporate employees and close 800 open roles — affecting roughly 8% of its global corporate workforce — the company said Thursday.

Target Corp. is eliminating about 8% of corporate roles in its first major restructuring in years, according to a memo viewed by Bloomberg News, as the retailer seeks to reduce complexity and regain its footing.

Target on Thursday informed staff of its first major corporate workforce reduction in a decade as the retailer tries to revitalize growth after four consecutive years of sluggish sales.

We came across a bullish thesis on Target Corporation on Value investing subreddit by mktschetter. In this article, we will summarize the bulls’ thesis on TGT. Target Corporation’s share was trading at $89.