Gap Inc. Announces Global Workforce Reductions in Broad Restructuring Efforts
  • last year
Gap Inc. is cutting hundreds of jobs worldwide as part of a restructuring plan aimed at streamlining the company and making it more agile. The cuts are expected to be larger than the previous round of job cuts in September, which saw roughly 500 corporate positions eliminated. Gap's leaders have been reviewing each brand with the goal of reducing management layers and speeding up decision-making. The move comes as the retail giant operates without a permanent CEO after the previous CEO resigned in July. Gap's restructuring addresses years of growing bureaucracy that has made the company inefficient. The retail giant employed about 95,000 people worldwide as of late January, most of whom work in retail locations.
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