Retailer Target has confirmed 260 jobs will be lost at the head office in Geelong following a company restructure.

In a statement, the company says the restructuring decision was difficult but necessary in order to get the business on the sustainable path to growth."Unfortunately we'll be losing many great team members," Target managing director Stuart Machin said.With our sales and profit under-performance over the past 12 months, we have needed to act in order to get our costs under control and the right store support structure in place.He said staff will receive their full entitlements.Company spokesman Jim Cooper says at the end of they day they had to do what was right for the broader business and the 20,000 employees across the country.

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