"We believe these decisions, while difficult, are the right actions as we continue to focus on transforming our business," the company said in a statement.
"We will continue to invest in key business areas to strengthen our ability to compete and thrive well into the future," the statement said.
The (Minneapolis) Star Tribune reported the layoffs involved 475 jobs at the company's headquarters in Minneapolis.
One already laid-off worker said the finance department where she worked was cut in half from 12 to six workers and that the remaining six workers were expected to be idled in February.
The work will be outsourced to India, said the employee, who asked that her name be withheld as she feared her severance package could be in jeopardy if her name was made public.
Company spokeswoman Molly Snyder said the layoffs were not connected to the massive data breach compromising the private information of 110 million customers that took place at the height of the recently concluded holiday shopping season.
Target has a total workforce of 360,000 employees with 14,000 of those working in administrative positions in Minnesota.
Out of those corporate office employees, 11,000 work at the company's main administrative campus in downtown Minneapolis.