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Article: Gap Inc. Lays Off 1,040 Employees Through Elimination of 1,600 Positions.
- Article from:
- Business Wire
- Article date:
- August 9, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
SAN FRANCISCO--(BUSINESS WIRE)--Aug. 9, 2001
In conjunction with the release of July sales, Gap Inc. (NYSE-GPS) announced today that the company laid off 1,040 employees through the elimination of 1,600 positions. The cuts came primarily from a 10 percent reduction in headquarters positions, with a smaller number of cuts in the company's Banana Republic field organization.
In a recorded sales call, available by calling (800) GAP-NEWS, CFO Heidi Kunz provided complete details on people and positions affected by the company's streamlining efforts. Those changes are as follows:
-- In July, Gap Inc. laid off 800 employees ...