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Gap, Inc. to Lay Off 500 Corporate Employees - WSJ

By Sam Boughedda Gap, Inc. (NYSE:GPS) is set to lay off 500 corporate employees, according to a report by The Wall Street Journal on Tuesday. The publication revealed that its...
Gap, Inc. to Lay Off 500 Corporate Employees - WSJ © Reuters. Gap, Inc. (GPS) to Layoff 500 Corporate Employees - WSJ
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By Sam Boughedda

Gap, Inc. (NYSE:GPS) is set to lay off 500 corporate employees, according to a report by The Wall Street Journal on Tuesday.

The publication revealed that its sources told them Gap is aiming to cut spending as sales and profits decline.

The layoffs are said to be primarily at Gap's main offices in San Francisco and New York, as well as Asia, with the positions being cut across various departments. Some employees were said to have already been notified.

Gap has experienced a decline in popularity over the last few years, with sales sliding at the flagship brand and issues with its Old Navy chain. In addition, with soaring inflation and declining consumer spending, sales have taken a further hit this year. They were also left with surplus goods after an attempt to create inclusive clothing sizes backfired.

Last week, Gap's partnership with Kanye West ended after the rapper, record producer, and fashion designer accused Gap of breaching the 10-year deal.

The WSJ said the job cuts are unrelated to the winding down of the partnership.

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03-10-2022 17:37:52 (UTC+7)

EUR/USD

0.9780

-0.0019 (-0.19%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (5)

EUR/USD

0.9780

-0.0019 (-0.19%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

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GBP/USD

1.1201

+0.0041 (+0.37%)

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Sell

Moving Avg:

Buy (6)

Sell (6)

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Buy (2)

Sell (7)

USD/JPY

145.07

+0.32 (+0.22%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

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Buy (2)

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AUD/USD

0.6449

+0.0046 (+0.73%)

Summary

Neutral

Moving Avg:

Buy (12)

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USD/CAD

1.3759

-0.0067 (-0.48%)

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EUR/JPY

141.89

+0.05 (+0.04%)

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EUR/CHF

0.9671

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Gold Futures

1,672.35

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Silver Futures

19.387

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Copper Futures

3.3720

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Neutral

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Crude Oil WTI Futures

82.66

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US Coffee C Futures

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Euro Stoxx 50

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FTSE 100

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17,079.51

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US Small Cap 2000

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40.167

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Adidas AG

116.26

-2.62 (-2.20%)

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Deutsche Lufthansa AG

5.579

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98.69

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Deutsche Bank AG

7.396

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    EUR/USD 0.9780 Sell  
    GBP/USD 1.1201 Sell  
    USD/JPY 145.07 ↑ Sell  
    AUD/USD 0.6449 Neutral  
    USD/CAD 1.3759 ↑ Sell  
    EUR/JPY 141.89 ↑ Sell  
    EUR/CHF 0.9671 ↑ Sell  
    Gold 1,672.35 ↑ Buy  
    Silver 19.387 ↑ Buy  
    Copper 3.3720 Neutral  
    Crude Oil WTI 82.66 ↑ Sell  
    Brent Oil 88.42 ↑ Sell  
    Natural Gas 6.622 ↑ Sell  
    US Coffee C 220.18 ↑ Sell  
    Euro Stoxx 50 3,290.65 ↑ Buy  
    S&P 500 3,585.62 ↑ Sell  
    DAX 12,029.34 Buy  
    FTSE 100 6,856.00 ↑ Buy  
    Hang Seng 17,079.51 ↑ Buy  
    Small Cap 2000 1,667.27 ↑ Sell  
    IBEX 35 7,352.50 ↑ Buy  
    BASF 40.167 ↑ Buy  
    Bayer 47.52 ↑ Sell  
    Allianz 160.04 ↑ Buy  
    Adidas 116.26 ↑ Buy  
    Lufthansa 5.579 ↑ Sell  
    Siemens AG 98.69 ↑ Buy  
    Deutsche Bank AG 7.396 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,540/ 6,620
(30/ 10) # 1,800
SJC HCM6,520/ 6,620
(-20/ -20) # 1,799
SJC Hanoi6,520/ 6,622
(-20/ -20) # 1,801
SJC Danang6,520/ 6,622
(-20/ -20) # 1,801
SJC Nhatrang6,520/ 6,622
(-20/ -20) # 1,801
SJC Cantho6,520/ 6,622
(-20/ -20) # 1,801
Cập nhật 03-10-2022 17:37:54
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Ngoại tệMua vàoBán ra
USD23.730,0024.040,00
EUR22.844,1424.122,55
GBP25.913,3127.017,45
JPY160,53169,94
KRW14,3417,48
Cập nhật lúc 16:19:56 03/10/2022
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