Toronto – January 19, 2015 – On January 15, 2015, Target Canada announced that it would close all its stores before the end of April. It is the largest failure of a retail company in Canadian history, and has had a direct impact on the jobs of more than 37,000 workers in Canada – the more than 20,000 Zellers workers who were let go when Target arrived, and the more than 17,000 Canada workers who learned last week (from the media before they heard it from the company) that the Target was shutting down and moving out.
The number of days Target Canada was in operations before announcing its closure.
Total of Target Canada stores to be closed.
Square footage of vacant retail space after Target shuts its doors – equivalent to 400 football fields.
The number of Zellers workers whose jobs were not honoured by Target Canada when it took over former Zellers locations.
The number Target Canada employees losing their jobs – approximately 0.1% of the total Canadian labour force.
Total projected severance set aside for 17,600 terminated Target Canada workers
$ 73 million
Severance and benefits paid to former Target CEO Greg Steinhafel in 2014.
SOURCES: Huffington Post, 2015. "Target's Departure From Canada, By The Numbers.", "BD Live - US executive retirement programmes highlight inequality gap."