Wesfarmers Ltd-owned department store Target is set to announce hundreds of job cuts, as well as an operational restructure, Fairfax Media reports.
The news comes just weeks after Wesfarmers chief executive Richard Goyder issued a profit warning for Target, saying he expected the department store's full-year earnings to be "disappointing" on a weak second-half sales performance.
In a statement to the Australian Securities Exchange, Mr Goyder said while the earnings will come in lower than expected, appropriate action has been taken to improve its future earnings and competitive position and maintain its strong brand in the Australian market.
According to the media outlet, several jobs in Target's marketing department were cut last week, with reports an additional 200 back-offcie jobs are set to be axed in the immediate future.
Wesfarmers shares fell 0.86 per to $38.25 at 1030 AEST, against a benchmark fall of 0.72 per cent.