Hundreds of Minnesota-based Target employees learned Tuesday that they no longer had jobs.

The mega retailer notified the Department of Employment and Economic Development that it will lay off 528 employees at the downtown Minneapolis location, and 287 employees at the Brooklyn Park outpost.

Jenna Estlick, president of HR Solutions and at Versique, said that the first thing laid-off employees should do is to understand their benefits. She advises knowing about your severance pay and your continuation of health coverage, also known as COBRA. 

Estlick also advised filing for unemployment. Then, when you're ready, you should update your resume.

"What is your story," Estlick said. "What sets of skills do you bring and what sort of opportunities are you looking for."

She also recommended reaching out to your network.

In the meantime, O'Grady said not to panic.

"This isn't the moment to sort of get all freaked out. I mean, I know it's a very tough situation, but having that clear level head," said O'Grady.  

It's not just Target that's cutting employees; Amazon also announced that it is laying off 14,000 corporate positions.

"Target has been struggling over the past few years," said CBS MoneyWatch correspondent Kelly O'Grady. "I just checked the stock price. It's down over 25% year-to-year."

O'Grady says Amazon, however, is doing well. Their layoffs are mostly to "trim the layers of bureaucracy," she said, especially as they "pour more resources into AI."

She says people on the job market should embrace the use of AI, as people without AI skillsets are often the ones who will be left behind.

The Target layoffs will take effect Jan. 3, 2026, the retailer said.