Apparel retailer Gap Inc. (GPS) has reported substantial employee layoffs recently, which indicates the business turbulence the company is facing. Hence, this might not be the right time to invest in its stock. Read on….
Apparel retail company The Gap, Inc. (GPS) is cutting off substantial jobs, reflecting the company’s troubled business conditions. The company is in the process of laying off roughly 500 corporate jobs, which accounts for about 5% of its 8,700 corporate employees. Softening demand and supply chain setbacks have hit the company’s retail footprint.