Target to Cut Jobs

Target, the second-biggest American discount retailer, will cut jobs to control costs in the slowing economy.

Eric Hausman, a Target spokesperson, said the company will provide more details later today.

Target, like other retailers, has seen sales of clothing and other discretionary items falter as consumers try to cope with job losses, tighter credit and housing difficulties.

Target, based in Minneapolis, fell 46¢, or 1.4%, to $32.69 in New York Stock Exchange composite trading.