Target letting 475 employees go

Minneapolis-based Target (NYSE: TGT) will lay off 475 employees worldwide, and also will leave another 700 positions unfilled.

The Minneapolis/St. Paul Business Journal reports the company's cuts are occuring at its headquarters and around the globe following a weak holiday sales season and a costly data breach that affected up to 110 million customers.

The deepest cuts came to Target Technology Services and human resources, but finance and marketing employees were also among those eliminated.

Also this week, Target announced it will no longer offer part-time workers health insurance. Instead, the company will urge them to sign up for care under the Affordable Care Act, according to CNNMoney.

Read more from the Minneapolis/St. Paul Business Journal.