Gap to lay off about 1,800 employees in second round of job cuts,Shares of the Banana Republic parent rose about 2% in early trade. As of Jan. 28, the apparel chain had about 95,000 employees, according to a regulatory filing. Mass layoffs to rein in costs have swept across Corporate America over the past months - from tech giants such as Facebook-parent Meta Platforms Inc and Alphabet Inc to retailers such as Clorox Co.
Gap to lay off about 1,800 employees in second round of job cuts
Shares of the Banana Republic parent rose about 2% in early trade. As of Jan. 28, the apparel chain had about 95,000 employees, according to a regulatory filing. Mass layoffs to rein in costs have swept across Corporate America over the past months – from tech giants such as Facebook-parent Meta Platforms Inc and Alphabet Inc to retailers such as Clorox Co.
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