US retailer Target Corp has become the latest retailer to cut jobs, with the announcement it is laying off around 475 employees globally.

“As an organisation, Target continually assesses our operating model to ensure we are well-positioned to adapt to changing business needs,” the retailer said in a statement.

“We believe these decisions, while difficult, are the right actions as we continue to focus on transforming our business. We will continue to invest in key business areas to strengthen our ability to compete and thrive well into the future.”

Earlier this month, Target Corp warned of larger losses than expected in its fourth-quarter as it revealed a data breach in December may have affected up to 70m customers.