Target Corp. (TGT) Friday, reportedly reduced bonuses for employees in view of lower sales and softer consumer spending.
According to Bloomberg, employees of Target might get 87 percent of their 2024 bonuses. The company is planning to disburse bonuses by the end of this month.
Target had reported a decline in fourth quarter earnings, from the previous year, on 3.1 percent decline in revenues. Higher expenses were eating into its margin, despite higher traffic.
Currently, TGT shares are at $102.99, down 1.16 percent on a volume of 2,702,662.
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