Target Corp. is closing its satellite location at 3901 W. 53rd St. in Sioux Falls, as notified to the South Dakota Department of Labor and Regulation.
This move will affect 59 employees, with 29 offered the chance to transfer to other positions within Target or receive separation benefits, including outplacement services. These employees will have their employment terminated by August 2 if they do not transfer or are ineligible.
The remaining 30 employees, whose positions are being eliminated without a transfer option, can apply for other open positions within Target or receive separation benefits. Their employment terminations will commence in August and continue through May 2025. The roles at the office include director of Target card services, credit card processors, and various account specialists.
Target initially brought its credit card operations to Sioux Falls after South Dakota eliminated the cap on interest rates and fees in the 1980s. In 2013, Target National Bank sold its assets and deposits to Maine-based TD Bank, merging into Target Corporate Services Inc., a subsidiary of Target Corp.