On the agenda:

• We’re entering the Forever Labor Shortage — and millions of workers are set to benefit.
• High-ranking Meta executives have exited ahead of thousands more layoffs.
• Big firms are filing for bankruptcy left and right — and it’s just the beginning.
• Say goodbye to the US car market as we know it: Cheap Chinese EVs are coming.

Target’s perk for parents

The retail giant offers one-year returns on own-brand items, including Cat & Jack children’s clothing. Parents have taken to TikTok to share their stories of returning items to Target, no matter if they’re stained, ripped, or simply too small.

Target’s chief growth officer, Christina Hennington, highlighted the kids brand on the company’s earnings call on Wednesday, emphasizing the returns policy and noting Cat & Jack is now generating $3 billion in sales a year.

The policy is also striking as a business strategy. The returns are conducted in store, helping generate additional foot traffic and giving Target a chance to sell parents craft supplies, groceries, or a soda at the checkout every time they return their kid’s clothes.

The Forever Labor Shortage

For decades, companies have enjoyed a never-ending supply of workers. But now that baby boomers are retiring in droves, there’s about to be an all-out competition for workers.

Read the full story.

As part of Meta’s “Year of Efficiency,” Mark Zuckerberg sought to “flatten” the company’s org structure and remove layers of middle management — and it seems he is doing exactly that.

In recent weeks, a stream of longtime executives have announced their departures. They are all part of Meta’s business division, which is expected to lay off 6,000 people next week.

More on the high-profile departures.

Data from Moody’s and S&P Global suggest the pain could just be getting underway — and could last all year.

What to know.

Also read:

• Leaked Vice Media email says the company’s bankruptcy will affect ‘timing and amount of severance’ payments to laid-off staffers

On their home turf, Chinese companies have already vanquished their American competitors, eating up market share from the likes of Ford and General Motors.

Industry watchers said it’s only a matter of time before Chinese automakers bring their impressive — and importantly, inexpensive — electric cars to the US.

Our full report here.

Plus, check out:

• China is kicking America’s ass in the EV-battery race and it’s going to define the 21st century

Putin’s bunker, home prices, & more

• Plans reveal Vladimir Putin’s secret underground bunker beneath his Black Sea palace.
• Home prices are falling fastest in these 28 cities, including Reno and Sacramento.
• A 22-year-old making $144,000 from 2 full-time remote jobs shares how he gets away with it.
• Companies are taking away your ability to actually own the stuff you buy.
• How elite hedge funds are battling for star portfolio managers.
• Gen Z is way behind on credit-card payments. It could get even worse.
• Insiders say Oracle is crushing morale at its $28 billion acquisition Cerner.
• A lawsuit against DoorDash alleges what some users have long suspected: the company charges Apple users more than Android owners.

Keep up with Insider

• Get Insider’s app and notifications to be the first to find out about the stories you want to know — from tech to business. Download it here.
• Become an Insider subscriber to get actionable, high-value news and insights to improve your career, company, and community. Subscribe here.
• Want more of Insider in your inbox? Sign up for our newsletters here.