Gap eliminates 500 corporate jobs amid shrinking margins
By
Reuters
Reuters
GapOld Navy
The company is laying off staff and eliminating positions that are currently open across a range of departments, it said. The eliminated roles are mainly at its offices in San Francisco, New York and in Asia.
The Wall
Shares of the Banana Republic
Late last month, the company withdrew its annual forecasts due to an inventory glut and weak sales.
Gap is in the middle of a CEO transition after Sonia Syngal
The company had a workforce of about 97,000 employees as of Jan. 29, with around 9% of employees working at its headquarters locations, according to a regulatory filing.
