Target to downsize office space in Minneapolis
Target announced that it will move out of City Center in downtown Minneapolis, as it plans to reduce its office space in the city by a third.
The news comes one year since the beginning of the Covid-19 outbreak, which forced corporate workforces across the world to work from home.
Now, the employer is forgoing office space to embrace a new hybrid model that will allow both remote and on-site work. Target said the 'Flex for Your Day' policy is what drove the decision to end its lease of nearly one million square feet at City Center.
The 3,500 employees who worked at the location prior to the pandemic will be relocated to another Minneapolis location or Brooklyn Park, later this year.
The announcement was made in an email to all Target global headquarters staff.
"None of us knew what the future would hold or how long we’d be working from home, but in just one year we’ve proven that we can drive incredible results, together, from our kitchens and basements and living rooms,” wrote executive VP and chief human resources officer Melissa Kremer.
“It’s not easy to say goodbye to City Center, but the Twin Cities is still our home after all these years. We have an incredible opportunity to build a new future together with redesigned workspaces, technology investments and more tools for connection and collaboration."
With 8,500 corporate workers, Target is the largest employer in Minneapolis, and the decision to shed office space is sure to have a ripple effect on businesses in the downtown core.
Nonetheless, the retailer’s headquarters will still remain in downtown Minneapolis and it will continue to own and lease more than 3 million square feet of office space in the Twin Cities. Target emphasized that no lay offs are being made in connection with the decision.
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