A Target spokeswoman responded to Michael, the employee who claimed last week that the company is reducing 8,000 full-time employees to part-time. She writes:
A Target manager named Michael says he was told he was one of 8,000 full-time specialists and team leaders who would be demoted to part-time. Understandably bitter, he says Target is cutting cost at the probable expense of customer service.
A report from New York investment firm Sanford Bernstein says that Best Buy will be eliminating 1,000 assistant manager positions and demoting 8,000 senior sales associates to regular sales positions that would pay 25 percent to 50 percent less than their current salary — causing some to compare them to Circuit City.