Gap is eliminating hundreds of jobs from its global workforce, the Wall Street Journal reported on Tuesday.
The current round of job cuts is expected to be larger than the 500 corporate roles the company eliminated in September, the report added.
The retailer had issues with product assortment at its Old Navy brand, the company said at the time. Those sales accounted for more than half the company’s 2021 sales, CNBC reported.
Entertainer Kanye West announced he was ending his company Yeezy’s partnership with Gap after accusing the company of breach of contract. According to West, Gap failed to distribute Yeezy products at its stores by the second half of 2021 and failed to create dedicated Yeezy Gap stores as per the contract, CNBC reported.
The company began notifying personnel last week that it planned to lay off in its international sourcing division, according to the Journal.
Employees will be told about prospective layoffs at its San Francisco headquarters this week according to people familiar with the situation, the Journal reported.
As of January, the company had a workforce of about 95,000 employees, according to a regulatory filing.
