Target is giving up on Canada.
More than 17,600 employees will eventually lose their jobs when the U.S. discount retailer closes its 133 Canadian stores after only about two years to cut losses that went as high as a billion dollars a year.
The company didn’t see how to stop the losses before at least 2021, Target Corp. Chairman and CEO Brian Cornell said Thursday. Cornell said on Target’s corporate blog that its Canadian arm was losing money every day.
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