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Target hit by layoffs as Canada winds down

Target plans to lay off about 720 people as the retailer winds down its operations in Canada, the Star Tribune reported Wednesday.

About 550 of the layoffs will occur in Minneapolis-St. Paul while another 170 jobs will be eliminated in India that support the Canadian brand with tech operations.

Read MoreRetailers are closing up shop. Here's why...

"This is a difficult day for the Target team but we continue to believe that the steps we are taking are the right ones for the company," Target's spokeswoman, told the Star Tribune in a statement.

Read MoreTarget's post-Canada wish list

Earlier this year, Target said it would close its Canadian business less than two years after opening it.

Read the full story from the Star Tribune here.