Geelong has been dealt another round of job losses with retail giant Target announcing forced redundancies in its banking and finance division.

The Australian Services Union was called to meet with workers at Target's Geelong headquarters early on Thursday morning.

The union has confirmed that 23 Geelong workers have been retrenched from the division, with their jobs to be outsourced to global consulting firm Accenture.

An ASU spokeswoman said there was "no guarantee" the jobs would stay in Australia.

It is the second time Target has swung the axe in Geelong, with 260 workers laid off from its North Geelong headquarters after a company restructure last year.