As the global clothing brand, GAP struggles with the ongoing weak financial performance, the brand has decided to eliminate roughly 500 jobs.
According to reports, these jobs cover a variety of departments and are mostly located at Gap’s offices in San Francisco and New York and Asia.
News of the layoffs comes a few months after the Gap reported weak first-quarter earnings, with sales sliding at its flagship brand and its more popular Old Navy chain.
The shares of the San Francisco-based company are down more than 40% so far this year.
As the company struggles to get sales back on track, Gap is also still looking for a new leader after CEO Sonia Syngal abruptly stepped down in July after about two years on the job.
News of the layoffs comes a few months after the Gap reported weak first quarter earnings, with sales sliding at its flagship brand and its more popular Old Navy chain.