The Minneapolis-based Target Corp. is reportedly shedding 550 jobs in Minnesota following the discount retailer’s retreat from Canada.
Target Corp. has named a General Motors executive to be chief risk and compliance officer as the retailer continues to overhaul its security department in the wake of last year’s massive data breach.
Target Corp. is offering for the first time free holiday shipping on all items, including even $6 lipsticks, as the discounter throws itself in the ring to compete better with the likes of Amazon.
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Target Corp.’s final shareholder vote tally is showing some dissent against key board members. All 10 nominees were elected to the board Wednesday at the discounter’s annual shareholders’ meeting.
Target says its shareholders approved all 10 nominees to the company’s board of directors despite recommendations from a prominent proxy advisory firm to get rid of the majority in the wake of a data breach. Institutional Shareholder Services last month targeted those members who serve on the company’s audit and corporate responsibility committee.
Target Corp. has named Brad Maiorino as chief information security officer as the company overhauls its security department in the wake of a massive data breach. The nation’s third-largest retailer, based in Minneapolis, said Tuesday that Maiorino will join the company Monday and be responsible for the company’s information security and technology risk strategy.
Target Corp. is in the crosshairs of a fight over gun rights. Moms Demand Action for Gun Sense in America is trying to pressure the Minneapolis-based retailer into prohibiting customers from carrying guns in its stores. It’s an attempt to counter gun owners in some states who’ve been shopping and dining with rifles slung over their shoulders to asset their rights to openly carry firearms in public.
Target is having an identity crisis. The nation’s third largest retailer was once high-flying, but now it’s struggling to find its place in the minds of American shoppers. Once known for its cheap chic fashions, Target faces competition from trendy chains like H&M.
Target Corp. has acknowledged its security software picked up on suspicious activity after a massive cyberattack was launched, but it decided not to take immediate action. The acknowledgement comes after Bloomberg Newsweek reported Thursday that Target’s security team in Bangalore received security alerts on Nov. 30 that indicated malicious software had appeared in its network.
Target is under fire once again after a front-page article in Bloomberg BusinessWeek says the company ignored an early warning from its own cybersecurity firm that it had been attacked. The news magazine is reporting that Target received the warning on Nov. 30. Previously, Target CEO Greg Steinhafel said he learned of the breach on Dec. 15. The public was notified Dec. 19.
The data breach at Target Corp. that exposed millions of credit card numbers has focused attention on the patchwork of state consumer notification laws and renewed a push for a single national standard.
The departure of Target’s chief information officer in the wake of the company’s massive pre-Christmas data breach highlights the increased pressure facing executives who are charged with protecting corporate computer systems from hackers whose attacks are on the rise and becoming more sophisticated. Years ago, the job of a CIO focused mainly on the upkeep of computer systems. In their largely behind-the-scenes rolls, most of their major decisions centered on the kinds of technological innovations a company would adopt, when and how much to pay for systems upgrades and the creation and maintenance of company websites.
Target Corp. Chief Information Officer Beth Jacob is resigning effective Wednesday as the retailer overhauls its information security and compliance division in the wake of a massive pre-Christmas data breach.
The massive Target data breach is having a large impact on not just the company’s customers, but is also costing Minnesota’s credit unions hundreds of thousands of dollars. The Minnesota Credit Union Network says $750,000 has been lost.
A western Pennsylvania credit union is suing Target Corp. for the cost of reissuing debit cards to about 75 customers whose account information was compromised by computer hackers who stole 40 million credit and debit card numbers from the retailer’s customers.
Minneapolis Police have refuted reports that smartphones had been taken from at least six IT professionals over the past two days. Earlier on Thursday, it was reported that a source told CBS News that smartphones had been stolen from workers at the downtown headquarters in Minneapolis.
Target Corporation announced Wednesday that the company would be eliminating about 475 positions. The news comes after more than a month’s worth of bad press over a data breach.
As consumers continue to absorb the news that the Target data breach affected far more people than the chain originally announced, the company is offering a year of free credit monitoring to customers. Target initially said 40 million credit card accounts were compromised, but now says the figure is closer to 110 million. Target’s stock was down again Monday, and the retailer announced last week that fourth quarter sales, which included the big holiday shopping season, were down two percent.
Luxury merchant Neiman Marcus confirmed Saturday that thieves stole some of its customers’ payment card information and made unauthorized charges over the holiday season, becoming the second retailer in recent weeks to announce it had fallen victim to a cyber-security attack. The hacking, coming weeks after Target Corp. revealed its own breach, underscores the increasing challenges that merchants have in thwarting security breaches. Ginger Reeder, spokeswoman for Dallas-based Neiman Marcus Group Ltd., said in an email Saturday that the retailer had been notified in mid-December by its credit card processor about potentially unauthorized payment activity following customer purchases at stores.
Sen. Robert Menendez wants the federal government to hold companies accountable when their customers’ financial information is stolen.
Some of Target’s employees won’t spend the Christmas holiday at home. The company says corporate staff will continue to help people whose data was breached.
The Secret Service says it is investigating a credit- and debit-card data theft at Target stores. Secret Service spokesman Brian Leary confirms the agency is investigating, but declined to provide further details.
Three former Hispanic employees are suing Target Corp. for discrimination and retaliation, citing a training document reminding managers that not all Hispanics eat tacos and burritos, dance to salsa or wear sombreros.
Douglas Dayton, who led the transformation of a family department store into retailing giant Target Corp., has died at the age of 88. Dayton’s wife, Wendy Dayton, confirmed his death Sunday. She said the resident of Wayzata, west of Minneapolis, died Friday after a long battle with cancer. Douglas James Dayton was the youngest of George Nelson Dayton’s five sons who took over the family’s downtown Minneapolis department store from their father in 1948. Douglas Dayton started working in the family business after serving in an Army infantry division in Europe during World War II, where he was injured and received a Purple Heart.