Target Canada Closes Stores - Leaves Lindsay Ontario!
Target announced they are closing their 133 stores in Canada. This will leave many Kawartha Lakes families without jobs.
Why did Target have difficulties in the Canadian market?
Disgruntled former Zellers employees may point to how their friends and relatives refused to shop at the store.
Target Canada Twitter party attendees might point to how American companies were promoted over their Canadian counter parts.
Still others might point to the major construction outlay Target made when they took over Zellers Canada stores. Could it have been too much expansion too fast?
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| Target Canada Closes 133 Stores |
What did Target Canada have to say about closing the stores? What did Mayor Andy Letham say about the stores closing?
Glad you asked!
Target Canada Closing 133 Stores
January 15th Target shocked many people by announcing they would be closing their 133 stores in Canada, beginning in the next few weeks. There had been no indications that Target Canada was winding down - they had a Twitter Party planned for this morning and had announced a hiring campaign at U of T Mississauga's Career Fair on January 14th.
Target Corporation states it conducted a thorough assessment and analysis of all available options and engaged a variety of third parties to do the same. Options ranged from exiting Canada, to dramatically reducing the company’s footprint, to closing a few stores. The company was not able to identify a scenario by which Target Canada would become profitable until at least 2021 - six years from now.
What happens to Target Canada employees? All Target Canada-based positions will be eliminated over time. Target Canada management will begin evaluating the needs of each position and will communicate the timing to team members directly. At the request of Target Corporation Chairman and CEO Brian Cornell, Target Corp. has created an Employee Trust to ensure that employees are treated appropriately. The Employee Trust will provide all eligible Target Canada-based team members with a minimum of 16 weeks of compensation, including wages and benefit coverage for those team members who are not required for the full wind-down period.
Which Target Canada team members are eligible for the Employee Trust? All current Target Canada team members, including those on both active and approved leaves, are eligible for the Employee Trust. Team members who voluntarily leave the company prior to their separation date forgo ongoing compensation.
Do you have returns to make or Target Canada Gift Cards? You may want to get into your local Target Canada Store ASAP.
Target Corporation states it conducted a thorough assessment and analysis of all available options and engaged a variety of third parties to do the same. Options ranged from exiting Canada, to dramatically reducing the company’s footprint, to closing a few stores. The company was not able to identify a scenario by which Target Canada would become profitable until at least 2021 - six years from now.
What happens to Target Canada employees? All Target Canada-based positions will be eliminated over time. Target Canada management will begin evaluating the needs of each position and will communicate the timing to team members directly. At the request of Target Corporation Chairman and CEO Brian Cornell, Target Corp. has created an Employee Trust to ensure that employees are treated appropriately. The Employee Trust will provide all eligible Target Canada-based team members with a minimum of 16 weeks of compensation, including wages and benefit coverage for those team members who are not required for the full wind-down period.
Which Target Canada team members are eligible for the Employee Trust? All current Target Canada team members, including those on both active and approved leaves, are eligible for the Employee Trust. Team members who voluntarily leave the company prior to their separation date forgo ongoing compensation.
Do you have returns to make or Target Canada Gift Cards? You may want to get into your local Target Canada Store ASAP.
Statement from Mayor Letham on the Closing of Target
The announcement earlier this morning that Target would be closing their entire Canadian operation including in Lindsay was difficult news to hear. Since opening Target has been a steady employer providing area residents with jobs and wages here in our community. While it won’t make up for the loss of jobs, news that the company is planning to provide 16 weeks of pay to each employee while transitioning through the closure will certainly be a benefit to many in our community.Council will continue to work and make decisions to help foster an environment for growth in our community and with the pending completion of the North West Trunk we can look forward to new development and opportunities in the near future.
Today, let’s keep the employees and their families in our thoughts and minds and start working together to strengthen our communities, build on our strengths and foster opportunities for a better tomorrow.
Sincerely, Mayor Andy Letham
What do you think made it difficult for Target Canada to gain a profitable foothold in Canada??
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