Target doubles bonuses for salaried employees as profits surge
Target is ratcheting up bonuses for salaried employees, including leaders in stores and across supply chains, thanks to a surge in profits.
Target is ratcheting up bonuses for salaried employees, including leaders in stores and across supply chains, thanks to a surge in profits.
The move comes thanks to $2 billion in additional profit growth for 2023, a company spokesperson said in a statement Thursday.
Target's stock surged in November after having fallen for much of 2023 as the company reported it had lowered costs to offset a slowdown in consumer discretionary spending. Since mid-November, Target’s shares have climbed 54%.
The company spokesperson confirmed that eligible Target employees received 100% of their 2023 bonuses, up from 50% the previous year.
“We’re rewarding our team accordingly,” the spokesperson said.
Rating: 5