Retail giant Target has unveiled plans to hire 100,000 seasonal workers for the holidays, with markdowns beginning in the first week of October.

The company said the new employees will be employed once its existing staffers are given the opportunity to schedule their holiday shifts.

After recruiting 130,000 staff the previous year, the retailer hired the same number of employees for the 2021 shopping season.

READ MORE: WALMART ANNOUNCES 40,000 WORKER HOLIDAY HIRING SPREE

The starting wages for seasonal employees will range between $15 to $24 per hour.

Its rival Walmart has announced plans to employ 40,000 holiday workers, significantly fewer than the 150,000 it added last year.

Following labor shortages last year, retailers have now been compelled to offer substantial markdowns in order to sell extra inventory.

In its latest earnings report, Target reported a nearly 90 percent drop in quarterly profit as it lowered prices to lure shoppers.

Target also stated that its Target Deal Day promotions will begin earlier than in previous years, with markdowns commencing on October 6.

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From early October until December 24, shoppers may also take advantage of Target’s price-matching scheme.

Despite the early discounts, Target and other retailers are unlikely to see a significant increase in sales this Christmas season.

Estimates for Holiday sales this year have been moderate, with some estimates projecting a 1 percent to 3 percent rise from 2021 when inflation is excluded.

Source: CNBC

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