Target Corporation Severance Package: 2026 Guide
Corporate: varies by level; HQ roles get better packages. Calculate your estimated Target Corporation severance below.
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What Target Corporation Typically Offers
Known Severance Benefits
- ✓Severance based on level and tenure
- ✓Extended health benefits
- ✓Employee discount continuation (limited period)
- ✓Career transition resources
Target Corporation Recent Layoff History
| Date | Employees | Details |
|---|---|---|
| 2023 | 700 | Corporate headquarters restructuring |
Sources: Minneapolis Star Tribune, CNBC
Target Corporation Severance Tax (Minnesota)
Target Corporation is headquartered in Minnesota. Here's how severance is taxed there:
Example: A Target Corporation employee with 5 years of service earning $75,000 would receive approximately $7,212 gross ( $4,915 after tax in Minnesota).
How Target Corporation Compares to Retail Average
Other Retail Companies
| Company | Formula | Rating |
|---|---|---|
| Walmart | Corporate: 2 weeks/year; Store: minimal or none | Below Average |
| Costco | Above-industry-average; Costco is known for employee treatment | Generous |
| The Home Depot | Corporate: 2 weeks per year; store-level varies | Standard |
| Macy's | 2 weeks per year for corporate; store closing packages vary | Standard |
Negotiating Your Target Corporation Severance
Strategies specific to Target Corporation employees:
- ✓Target HQ roles in Minneapolis receive better packages than field roles
- ✓Push for extended team member discount access
- ✓Negotiate for Target Circle benefits continuation
- ✓Ask for outplacement services focused on retail/CPG industry
Think Your Severance Is Too Low?
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Target Corporation Severance FAQ
How much severance does Target Corporation pay?▼
Target Corporation typically offers Corporate: varies by level; HQ roles get better packages. Their severance reputation is rated as “Standard” compared to retail industry peers. In recent layoffs (2023), corporate headquarters restructuring.
Can I negotiate my Target Corporation severance?▼
Yes, most severance packages at Target Corporation are negotiable. An employment lawyer experienced in retail can typically negotiate 2-5x the initial offer, especially if there are potential legal claims or WARN Act violations. Many offer free initial consultations.
How is Target Corporation severance taxed?▼
Target Corporation severance is taxed as supplemental wages at 22% federal flat rate plus 9.8% Minnesota state tax, for a total of approximately 31.9%. If you work remotely, your state of residence tax rate applies instead.
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