Target will hire a lot fewer people for the busy holiday season this year amid the nationwide labor shortage.
The retailer said Thursday it plans to sign up 100,000 seasonal workers. That sounds like a lot, but it’s about 30,000 fewer than the number it had hired in 2019 and 2020.
Target said it’ll make up the difference by offering its existing employees more work hours. It said they should earn $75 million in additional pay.
During last year’s holiday rush, Target nabbed market share from its rivals, benefiting from its investment in its online business.
Many retailers and restaurants worry they’ll be short staffed during the key holiday shopping season that starts in late November. So, they have been boosting pay and incentives in a bid to retain their staff. Target hiked its starting hourly wage to $15 last year.
Facing a logistics and labor crunch, rival Walmart plans to hire 20,000 workers at its supply chain division ahead of the holiday season.