There was a RIF in the Chicago office two weeks ago. Target seemed to be 10% of the workforce. They trimmed around the edges but didn't say exactly how many were let go. Cited: a difficult year financially. This may be just a start given the recent Sherwin-Williams talks about the merger. IT would be affected but it may be more than that as there will be overlap in other departments.
Specifically, you need to be looking at redundancies and subsequent job cuts in HR, finance, all shared services functions etc. Admin jobs, etc.