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Target will leave its office in the City Center skyscraper in Minneapolis, according to an email sent to employees on Thursday.
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The change comes at a time when the company is reimagining the future of work at its headquarters, adopting a hybrid “Flex for Your Day” approach. “Flex” will give employees the option of working virtually and personally in the office, as they will “gradually return to headquarters” later this year.
“Our headquarters will always play a central role in who we are and how we work at Target,” wrote Target’s human resources director, Melissa Kramer, “We believe in the culture, collaboration and competitive advantages of working together at our vibrant headquarters in the twin cities. and around the world. But the reality is that “Flex for Your Day” will require less office space, so we will end our operations at the City Center in downtown Minneapolis. “
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| TGT | TARGET CORP. | 179.14 | +0.65 | + 0.36% |
Target office employees were sent home last year to contain the spread of the coronavirus pandemic, which has infected more than 29.1 million Americans since March 2020, according to Johns Hopkins University. Although employees were originally scheduled to return in June, Target announced last month that the return would be postponed until the fall.
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About 3,500 of Target’s 8,500 employees in downtown Minneapolis who were working at the City Center before the coronavirus pandemic will be given a “home base” in one of the other buildings at the company’s headquarters in the city or on its Brooklyn Park Campus.
Kramer did not provide a timeline for when Target will leave the space, but noted that the decision is being shared with Target’s team and external stakeholders to allow the retailer to “openly plan for the future”.
Target is not laying off any staff or functions as a result of this change, and the Twin Cities will continue to be the retailer’s hometown.
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According to the Minneapolis Star Tribune, Target is the largest employer in downtown Minneapolis and the largest tenant in the City Center. The company’s lease at the City Center will last until December 2031.
Minneapolis city center (Google Maps)
Target leases 985,000 square feet of office space in a 51-story skyscraper. In addition, the company has space along the Nicollet Mall with Target Plaza North and South, as well as Target Plaza Commons; on South 10th Street is Target Plaza III and 22.5 km from downtown is Target’s Brooklyn Park Campus, where the retailer reportedly owns 350 acres. In total, this gives Target an additional 3,195,000 square feet of office space. Before the pandemic, almost 12,000 employees worked in Target’s collective offices.
“It is not easy to say goodbye to the city center, but the twin cities are still our home after all these years. We have an incredible opportunity to build a new future together with redesigned workspaces, investments in technology and more tools for connecting and collaboration, “Kramer added. “I know that the pandemic continues to demand a lot from us and I am grateful for the way you faced all the challenges, proving the strength of our team and our culture in all of this. There is a lot to expect as we design a future workplace that brings the best of Target closer. “