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Target Corporation has reportedly announced that it will cut about 500 roles at the company, partially in an effort to reallocate financial resources to boost the in-store customer experience. The job cuts would be the second major wave of cuts that Target has made in the last five months, and come less than two weeks after the companys new CEO stepped into the role. Heres what you need to know. Whats happened? On Monday, media outlets including CNBC and MarketWatch reported on a memo sent to Target employees by the companys chief stores officer, Adrienne Costanzo, and its chief supply chain and logistics officer, Gretchen McCarthy. In the memo, the executives announced that the chain would be initiating more layoffsthis time cutting around 500 positions. However, the majority of the job cuts will not impact store-level retail workers. Instead, the memo says that about 400 jobs will be lost across its distribution and another 100 jobs will go across its store district level. Fast Company has reached out to Target for comment. We’ll update this story if we hear back. Targets roughly 2,000 stores are divided into geographic districts staffed by corporate regional office workers. The memo stated that the number of these districts will be reduced, and thus some corporate workers overseeing these districts will be let go. Target has around 440,000 employees, most of whom work in its retail division. Job cuts of around 500 mean Target is laying off about 1/10 of 1% of its workforce. Why is Target cutting jobs? Besides a reorganization of its geographic districts, the financial savings from job cuts will allow Target to reinvest more money into front-line in-store staffing. This change also fuels our ability to put significantly more payroll in our storesprimarily in additional labor and hours where needed most, but also in new guest experience training for every team member at every store, the memo stated. In recent years, Target has faced customer criticism that checkout lines have gotten longer and stores have become messier. This has been attributed to lower staffing levels in stores and to store employees being taken off the floor to help fulfill online curbside orders. But the job cuts also come less than two weeks after Targets new CEO, Michael Fiddelke, stepped into the role at the beginning of this month. Fiddelke was named incoming CEO last year and had previously served as the companys operating officer. Fiddelke himself is the one who notified Target employees via memo in October that the company was laying off 1,800 workers. At the time, Fiddelke said those layoffs were a necessary step in building the future of Target and enabling the progress and growth we all want to see. Target hit by external and self-made problems In recent years, Target has had essentially flat year-over-year sales, not helped by the fact that many of its cost-conscious consumers are cutting back on their discretionary spending and inflation surges. A majority of the goods Target sells are discretionary items. Additionally, many of Targets products come from China and other countries in Asia that have been hit hard by President Trumps tariffs, thus raising Targets costs when it imports those goods to the United States. The company also shot itself in the foot last year when it reversed course on its celebrated diversity, equity, and inclusion (DEI) initiatives in the wake of Trump entering the White House for a second term. The reversal of its DEI policies led to fierce consumer backlash and boycotts, resulting in foot traffic falling by almost 8% in many of its stores. How has Targets stock price reacted to the layoff news? Investors in Target Corporation (NYSE: TGT) seem unfazed by the news of more job cuts. Yesterday, TGT shares closed roughly flat to $115.52 per share. And in premarket trading this morning, TGT shares are up only about 0.4%. Given this, investors seem to think the layoffs and district changes will have little meaningful impact on Targets financesat least in the immediate term. The good news for Target is that, as of yesterdays close, the companys shares are up over 18% year to date. While the companys stock price is still down about 12% over the past year, TGT shares have now recovered significantly since their November low of around $83.
Category:
E-Commerce
To Dr. Richard Pan, a California-based pediatrician, the idea of living a long, healthy life should not be a partisan issue. Unfortunately, it’s become one: He knows that topics like vaccines, healthcare, and science at large are now extremely politicized, and that whoever has the power to shape our policies can have a big impact on the health of Americans. Pan has seen that firsthand in his time serving in California’s state assembly and then senate, where he authored landmark legislation around vaccines, health insurance, and even a law that led California to produce its own insulinwhich paved the way for the state to offer the medicine for as low as $11. Now, Pan is running for Congress, motivated by Robert F. Kennedy Jr.s anti-vaccine agenda and broad issues around healthcare affordability. I swore in medical school as part of my oath to help people and improve health, he says. Part of my career commitment would be to say, Okay, well, I tried doing that at the state [level] and succeeded. Now I need to go to the federal government.’ Pan is part of a wave of experts in STEM fields (science, technology, engineering, and mathematics) who are running for Congressional seats in response to the Trump administrations attacks on science, facts, and also affordability. From doctors to scientists to math teachers, Democratic candidates, frustrated with the federal governments actions, see an opportunity to use their STEM skills to win seats in Congress, and eventually shape policies that help the public. While some of these candidates have prior political experience, others are completely new to politics. Dr. Richard Pan listens as senate bill 277 is passed at the California state capitol building in Sacramento, Calif., on Thursday, June 25, 2015. [Photo: Liz Hafalia/The San Francisco Chronicle/Getty Images] RFK Jr. as a tipping point Pan first ran for Californias state assembly in 2010 after witnessing the effects of the Great Recession. The state struggled to pass a new budget, and funding shortfalls led to cuts to various health services. I decided things were so bad that I would throw my hat in the ring and run, he says. He flipped the Republican seat. Pan served in the State Assembly until 2014, and the state Senate from 2014 to 2022, before returning to medicine full-time. When RFK Jr. was announced as the Health and Human Services secretary, though, Pan saw it as a tipping point. He had already confronted RFK’s vaccine skepticism as a state lawmaker, and he saw RFK’s role in Trump’s administration as something that could upend everything he worked on to help Californians. At the state level, Pan authored legislation that restricted vaccine exceptions; that law went into effect the same year California saw a massive measles outbreak. California hasn’t had such a large outbreak since. But measles cases are surging across the country, and RFK Jr. has been behind much measles vaccine misinformation. That risks everyone, Pan says. As cases increase, risks rise even for vaccinated individuals. When RFK Jr. spread false claims about vaccines during his Senate testimony, people started calling Panreporters, community membersasking what he was going to do about all the health protections being undone by the federal government. I said OK, then Im going to Congress, because thats where the problem is now, he says. Pan is running for the House in Californias 6th District. That seat is currently held by Democrat Ami Bera, who is challenging a Republican in the redrawn 3rd District. “Evidence and reason and the facts” Pan isnt the only STEM expert who was asked to take action in response to the Trump administration. Manny Rutinel, a microbiologist, first responder, and environmental lawyer, says community members asked him to step into the political ring for both his position in the Colorado legislature and his run for Congress. Rutinel is now running to represent Colorados 8th districta seat Democrats lost by less than 1 point in 2024. The incumbent, Republican Gabe Evans, is running again, and multiple race ratings have called a toss up for 2026. To Rutinel, the stakes of both his campaign, and similar campaigns across the country, are clear. To be able to put a stop to the horrors of what the Trump administration and RFK Jr. are doing to our government, our institutions, our services, we need to take back Congress, he says. He already sees his science background, along with his working-class background, reaching potential voters. In the first quarter of 2025 fundraising, his campaign raised more than $1.1 million, with an average donation of $32. The message is resonating, he says. We want folks who are standing up for what’s right, who are using evidence and reason and the facts to be able to put forth legislation that actually helps people instead of hurting them. Problem-solving mentalities Jake Johnson has taught high school math for the past 20 years. Hes never been involved in politics, but now hes running to represent Minnesotas 1st Congressional Districta seat currently held by Republican Brad Finstad. He knows his reasoning could sound like a cliche, but he stands by it. I genuinely have enjoyed solving problems for two decades, he says, and I think that sort of spirit and mindset is something that is maybe missing a little bit in Washington these days. The neighbors in his district seem to like that problem-solving mentality, too. Johnsons campaign raised $100,000 the first day it launched. In both Q2 and Q3 of 2025, he outraised Finsad; Johnsons average donation is under $50. Though hes completely new to politics, Johnson is hopeful about his campaign; he describes himself as a crazy optimist. Hes also buoyed by the other STEM candidates he sees running across the country, many who arelike him, Pan, and Rutinelbacked by 314 Action, a PAC that is specifically working with STEM candidates in response to the Trump administration. We live in such a time of polarization where people get their facts from different sources [and] when we can’t agree on basic fundamentals, we cant have powerful, thoughtful conversations as a community, he says. Weve got to get back to establishing some truths as much as we possibly can. Public confidence in scientists Already in 2026, 314 Action is working with more than 150 STEM candidates nationwide. Many of those races are for Congress: beyond Pan, Rutinel, and Johnson, the PAC is backing Bale Dalton, former chief of staff at NASA and first-time political candidate running for Floridas 7th District; and Audrey Denney, an agricultural scientist and educator running in Californias 1st District, among others. There are also STEM candidates running at more local levels, like Nirav Shah, who was director of the Maine Center for Disease Control and Prevention during the COVID-19 pandemic, and who is now running for Maine’s governorship. Americans public trust in government has been eroding. Only 17% of Americans say they trust the government in Washington to do what is right just about always or even most of the time, according to Pew Research. But they still largely trust scientists. A January 2025 Pew Research study found that 77% of U.S. adults say they have a great deal or fair amount of coincidence in scientists acting in the publics best interest. Public confidence in scientists has dropped slightly since the start of the pandemic, but scientists continue to rank higher in confidence than elected officials or business leaders. To 314 Action, the current debates in Congress over vaccines, healthcare, and more point to a need for more STEM candidates. The PAC both recruits candidates and reaches out to candidates already running; recently, it said that all of its 150-plus STEM candidates outraised their opponents in the last quarter of 2025. The PAC has faced criticism for taking and concealing donations from the American Israel Public Affairs Committee, or AIPAC, in a 2024 Oregon Congressional race; 314 Action pushed back against the reporting at the time before campaign documents became public. “As Trump and RFK Jr. ramp up their attacks on science and health care, 314 Action’s mission to recruit and elect more Democrats with science backgrounds has never been more urgent,” Erik Polyak, 314 Action’s executive director, said in a statement. “We work with a broad political coalition of individuals and organizations laser-focused on advancing winning campaigns.” To some, it might not be obvious that STEM experts would enter politics. Members of Congress tend to come from fields like law or business primarily (though education and public service are also dominant backgrounds). But to Dr. Pan, and others in STEM currently running for office, the idea makes clear sense. Pan cites Rudolf Virchow, the father of modern pathology, who said that “politics is nothing but medicine at a larger scale.” “The nature of politics right now demands that we actually enter the political field and practice medicine on a larger scale, as Virchow said, because it’s under attack,” Pan says. “One of the major sources of the problem right now is the current administration and the current people in Congress.”
Category:
E-Commerce
When Zillow launched 20 years ago, the home-buying process happened almost entirely offline. The companys digital listings, combined with its innovative Zestimatean estimate of a homes value, based on the kind of data typically only available to real estate professionalsmarked a turning point for the housing market. Zestimates werent exact representations of value, but they put power back in the hands of prospective buyers (to sellers and agents chagrin). Their near-instant popularity was an early do your research internet moment. Fast-forward to the present day, and Zillow, which has a $13 billion market cap and reports earnings after the market close on February 10, is once again under pressure. In partnership with First Street, a provider of climate risk data, Zillow had been publishing climate risk scores for the homes on its platform. But some homeowners have balked at their scores, and some have even sued. A home that First Street labels as high-risk for flooding, for example, can quickly drop in value. Zillow CEO Jeremy Wacksman, who joined the company in 2009 and became CEO in 2024, is walking a careful line. Zillows brand is associated with data transparency and consumer empowerment, but an increasing share of its revenue is tied to real estate agents who pay for software tools that help them virtually stage homes and message with open house leads. On the eve of the companys Q4 2025 earnings, which analysts estimate will be $650 million in revenue for the quarter, 17.4% growth, Wacksman sat down with Fast Company to talk about how Zillow is navigating the competing demands of its two-sided marketplace, the affordability crisis, and more. This interview has been edited for length and clarity. Zestimates werent perfect in Zillows early days, but even so, they were never taken down. Yet in the case of First Streets climate risk scores, youve moved them to a separate place; people have to click through and leave the site. Walk me through the thinking there. Jeremy Wacksman [Photo: Zillow] When you are focused on helping the consumer, the buyer, and seller, you want to try and provide as much information as you can with the right context. That’s what the Zestimate always has been. And we show our work, right? We show what our accuracy is. It’s not an appraisal, it’s not a professional opinion, but its a great starting point. Our philosophy is: Information needs context. And its hard for it to be perfect, but more information generally, when given the right context, is better than less. Climate is the same way. We still have climate data on our site. We’ve tweaked what we show on Zillow versus what we link out to third parties, just given some of the accuracy data on some of the [climate] data sets. Get an official appraisal and figure out what you want to do, but almost every buyer and seller appreciates that data to start that conversation. It feels like part of the reason people are so sensitive to potentially a bad climate score or a bad Zestimate is just because of the state of the housing market. Inventory is tight, sales are sluggish, prices are high. There is this growing consensus that we need to make owning a home more affordable. Where do you see that tension over affordability show up on Zillow? The most stark change over the last decade has been the percentage of buyers who start with an affordability question versus start by window shopping. When I first joined, everyone just wanted to window shop. Thats how you got started. You fell in love with a home, then you hired an agent, then you figured out your financing. Now thats flipped. About half as many buyers will say, I dont even want to go get excited. I want to understand, can I do this? That massive shift, I think, is the best representation of the affordability crisis. Youre right: We are in a period where homes are incredibly unaffordable. Home prices have run up nearly 100% in some markets from pre-pandemic levels. Average rates obviously ran up, too, so your mortgage per home gets even less affordable. That’s why you’re seeing transaction volumes at 30-year lows. In a normal housing market, 5.5 million to 6 million homes will trade every year. We’re at 4 million. Relative to the last couple of years, it’s getting a little better, but if you zoom out, it is still dramatically unaffordable. What are the leading indicators you’re watching to see if the market is on the cusp of change? One way to track the overall picture is [to look at] what you consider an affordable home for a median-income household. With a 20% down payment, 30% of your income [going toward] a mortgage payment is affordable. At the markets worst, we were close to 40% on average, so almost nothing was affordable. Now its drifting back down. I think that’s what you watch for. Zillow has been investing a lot in AI. One of the features that probably a lot of people have seen is virtual staging, or the use of software to add furniture and design elements to a listing. How do you go from conception to execution on something like that? Virtual staging as a concept is not something we invented. What we invented was the ability to do it with really modest tools. We saw this technology coming; we saw 3D tours and interactive floor plans, all these things. But they were done with very high-end, very expensive cameras and media capture. How do you get that to an average real estate agent? Thats the problem. The average real estate agent has maybe a $100 360-camera or an iPhone. So we built the technology ourselves. Thats why you now see virtual staging on 5% or 10% of listings in some markets. The agents can easily capture some media; we can generate an interactive walk-through. Zillow is trying to go from being an ad-based business to supporting transactions directly. Do those tools generate the kind of leads that you’re interested in? We are fortunate to have hundreds of millions of people on Zillow every month, shopping, dreaming, starting their transaction, using us as a companion. But we only help a very small share of those people actually buy, sell, or rent a home. Virtual staging and interactive floor plans and 3D tours: Those are tools for a listing agent to go win more business. But we spend as much time on software for agents to run their business, whether that’s book their appointments, schedule showings, run their offer processes. Sometimes, the best use cases of AI are just making that more efficient. I’ll give you an example. Agents are sending hundres of messages a day to all their clients. Well, that’s something that generative AI can help with. We’re now sending millions of what we call smart messages. That’s something that sounds very simple, but think about the productivity gain. It helps them be a better guide, which helps them convert more business, which helps Zillow convert more business. Zillow is a partner to ChatGPT, which has been starting to encourage e-commerce through its interface. Some shopping categories are pretty simple. Its easy to imagine, for example, that someone is going to go to ChatGPT and say, What are the best pliers? But a home is a little bit different, right? Buying a home and selling home, for sure, it’s a very different category than most verticals. The most interesting stat to me is that as technology gets more pervasive, and as data gets bigger, buyers and sellers feel even more paralyzed, and they want even more help. The percentage of people who say, I want a full-service professional to help me is higher now than it was before the internet, before the smartphone. You could think about ChatGPT and Gemini as a source of traffic for a vertical like ours, or as a technology we can build into our experience. We think the latter is really where its going to go. The average buyer spends six to nine months shopping, sometimes longer, sometimes years on and off. In this category, you are ultimately making a set of trade-offs between what you can afford, whats available at the time, and all of your lifestyle situationsthe commute, the school, the neighborhood. You dont get to just pick from a shelf of endless supply. Thats why you end up hiring really good people to help you figure out how to make those trade-offs and figure out how to make sure you don’t make a financial decision that will cost you, because its the biggest financial decision youll ever make in your life. When it comes to figuring out the mortgage, figuring out which house to buy, figuring out how to sell your house, we think it will be this interweaving of professionals, professional software, buyers and sellers. And now you’re going to see LLMs [large language models] weave into all that. Twenty years in the future, what’s the one thing that will be really different about the search and the one thing that will be really different about the actual transaction? This category doesnt work like any other category on your phone. You open your phone and you look at shopping and ride-hailing and travel and even wealth managementso much is digital. Real estate doesnt work that way yet. Weve made a bunch of progress, but it doesnt. Its very analog. Its very paper based. Its very asynchronous. We survey consumers every year, and the stat that always sticks out to me is that more than half of homebuyers cry during the process. I’m hopeful that in 20 years, hopefully in less than 20 years, we [can make Zillow into] more of a one-stop shop. Its smart. It’s personal. It’s just all there for you.
Category:
E-Commerce
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