Target to shut down all but five of its stores in Canada
Target will close all of its Canadian stores in the coming months, the company announced Wednesday.
The move comes just weeks after Target announced that it would lay off all employees at its stores.
The company said that the decisions were made to save $5.7 million in labor costs.
The closures are expected to impact more than 15,000 workers.
The stores will remain open for business, but Target will no longer sell its goods to customers.
The decision follows Target’s announcement last month that it plans to sell its products in China.
Target did not disclose the exact location of its remaining Canadian stores, but said that they will be in locations in British Columbia, Alberta, Manitoba, Ontario, Quebec and Saskatchewan.
The company said it will be making similar decisions for other Canadian locations.
Target has already laid off thousands of people in the United States and Canada, including more than 10,000 employees in Wisconsin.
The retailer said it is expected to lay off tens of thousands more in the next year.