Gap, has declared that it will eliminate hundreds of positions as part of an overhaul of the entire organisation. The clothing retailer is said to be entering its second phase of layoffs, affecting thousands of employees.
The news of the upcoming layoffs at Gap comes just a week after the company announced its partnership with toy manufacturer Mattel, known for its iconic Barbie brand. The collaboration between Gap and Mattel involves a new clothing line ‘inspired by Mattel’s range of brands and Gap’s distinctive icons.’ The company stated that the Gap x Barbie collection is one of several forthcoming Gap x Mattel product releases.
According to a report by the Wall Street Journal, the impacted employees of the international sourcing division were the first to be informed of the job cuts.
Additionally, these job cuts are expected to be bigger in scale compared to the layoffs that took place in September of last year.
In the last round of layoffs at Gap, the company cut around 500 corporate jobs, to reduce costs by $250 million per year. This time the impact will be much bigger but is currently unclear which departments or divisions will be impacted by the upcoming job cuts.
Gap had previously announced its partnership with menswear brand The Brooklyn Circus (BKc) in February. Over the last few months, many companies, particularly those based in the United States, have announced global job cuts. Major corporations such as Google, Meta, and Disney have all announced significant layoffs. The information technology industry has been particularly hard hit by this trend.
