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Target workers will have to put in more hours during the holiday period as the company wants them to work 5 million more hours during that period.
Target Reduces Seasonal Hires
Target has announced earlier today that it has reduced its season hires for this year. This would lead to its workers putting in over five million more hours during the holiday period as demands for goods start to come in.
The company revealed this earlier today, stating that as it prepares for a rush of shoppers at stores and on its website, it doesn’t intend to hire as many seasonal workers the upcoming holidays as it has done in the past two years.
The retailer said about 300,000 of its current employees would need to put in five million more hours of work during the holiday period. The additional hours translates into $75 million additional pay for its workers.
Target said it intends to hire 100,000 seasonal workers during the holiday period. However, that is below the 130,000 seasonal workers it has hired over the past two years. Target has more than 1,900 stores across the United States and nearly 350,000. During the summer, Target launched an app that allows its employees to pick up extra shifts. The workers can choose times or swap hours on-demand. Thus, enabling workers to adjust their working hours for other obligations such as parenting or attending a college class.
Target’s Chief Human Resource Officer Melissa Kremer said the new changes were prompted by the pandemic. She added that the pandemic made it necessary for Target to adopt a flexible working condition.
TGT Is Up By Less Than 1%
The shares of Target are trading in the green zone and are up by less than 1% since the market opened an hour ago. TGT is trading at $243 per share at the time of this writing. Year-to-date, TGT is up by nearly 40%. The stock started the year trading at $175 per share, but it is now trading at $243.
Retail outlets like Target are expected to have a busy holiday period as activities in the US and other parts of the world start returning to normal.
This article was originally posted on FX Empire