A day after Target Corp. laid off 1,700 staffers at its Minneapolis headquarters, a new scramble began — among companies looking to hire them.
SPS Commerce, a fast-growing retail software company a few blocks from Target's corporate tower, started actively recruiting laid-off Target employees to fill its 170 openings.
On websites and message boards aimed at the new ex-Target workers, notices appeared from other technology companies and retailers with job opportunities. College alumni groups and state career counselors kicked into gear with offers of help. The University of St. Thomas offered discounts on certification programs to help laid-off Target employees learn something new.
Tuesday's cuts at Target were the largest ever at the company's headquarters and the biggest one-day reduction by a Minnesota company since 2002. For a number of reasons, however, they may not be as damaging as other headline-grabbing downsizings in the past.
"Logically, these are not people to be pitied," said Isaac Cheifetz, a former headhunter who specializes in talent strategy for Trexin Consulting in Minnetonka. "They will do well, aside from the temporary personal disruption, which is not trivial."
The people suddenly on the market are attractive job candidates, he said. Most are well-educated and they carry the pedigree of having worked for a company that is mostly admired in the region and across the country.
They're entering a local economy that supports a deep bench of businesses across many industries. Growth in professional jobs has been strong in Minnesota since 2009, and the state unemployment rate is as low as it has been in eight years. Even if they choose to leave the Twin Cities, there are more jobs open across the U.S. now than at any time in 14 years, the government reported earlier this week.
Because Target laid off people across the company, the market won't be flooded with workers with only one skill. As well, the massive nature of the layoff reduces stigma on the former employees. "It wasn't about the people in the jobs," Cheifetz said.