Target (TGT) expects to hire about 70,000 workers for the holiday shopping season, 20% fewer than last year.
The discount retailer decided to lower its seasonal employee count by 18,000 after its permanent employees expressed interest in working extra hours during the year’s busiest shopping season.
Target said one-third of its seasonal hires last year became permanent workers.
Last month, Target reported a 13% decline in its second-quarter earnings amid costs related to the company’s expansion into Canada. Target also saw weaker-than-expected sales and cautioned that consumer spending will likely continue to be weak.
Rival Kohl’s (KSS) said Thursday it plans to hire about 53,000 seasonal associates for the holidays, roughly level with last year’s headcount.
Shares were trading 31 cents lower at $65.08 early Friday morning.