Trigger Warning: If you work at Target, you may want to sit down before reading this.

Target announced in their recent press release that on top of their continuing operating losses over the past year, they expect to continue sustaining heavy losses in the coming year as well.<br><br>>sales declined 4.7% year over year in Q4<br><br>>operating loss in Q4 was $1.3 billion<br><br>>operating loss for 2023 was $3.5 billion<br><br>>expecting another operating loss of roughly $4.5 billion in 2024<br><br>>will close 61 locations<br><br>>will close 7 distribution centers<br><br>>will fire 14,000 employees<br><br>>will fire 15% of corporate leadership and employees<br><br>>will stop selling adult toys, poker chips, playing cards, molcajete spice grinders, and some other items<br><br>I really don’t understand how Target is losing money but Walmart just recorded their highest annual sales yet.<br><br>&#x200B;<br><br>Edit: I’m sorry for the 14,000 employees, 9500 contract workers, and all the third party contractors that Target is going to let go of. I hope you all find a job that pays equally or better and that your transition as smooth as possible.<br><br>Edit2: For those of you that are asking why Target does not compete by cutting prices, in their latest earnings call, they are actually planning on doing so throughout the year. They did an experiment with 600 items in a few markets and plan on gradually expanding out the discounted items as the year progresses.