Layoffs 2023: Companies are now preparing for the second round of layoffs. In such a situation, a company with a famous brand has announced the removal of 1800 employees.
Layoffs News: The tech sector was first hit by the global recession, but now it is slowly affecting other sectors as well. America’s famous fashion brand (Fashion Brand Job Cuts) has announced mass layoffs. The name of this company is GAP. This time Gap has made a plan to lay off a total of 1,800 employees (GAP Layoff Plans). Earlier in September also, the company had laid off 500 employees. Compared to last year, the number of people who have been retrenched has increased manifold.
Which employees will be hit by retrenchment
While giving information about the retrenchment, Gap has told that some field workers, some regional store heads and people working in the store will be retrenched. The company has announced the layoff when its sales have registered a decline. The company’s interim chief executive officer, Bob Martin, said the move would save the company at least $300 million. Along with this, he said that we are taking every necessary step to improve the performance of Gap Inc. Its brand is continuously working on its model of operation and focusing on giving better experience to the customers.
The CEO had indicated layoffs in March
Along with this, Bob Martin said that it is necessary for the company to take this step. On behalf of the company, we would like to express our gratitude to those employees who have made significant contribution by serving the company for many years. Earlier in March itself, the CEO of the company had indicated layoffs in the coming days.
He had said in a statement that the company is going to cut employees in its management, but at that time he did not disclose the number of employees who would be the total retrenchment. Significantly, before this, Gap had laid off 500 employees in September. According to the data released by the company, by January 2023, a total of 95,000 employees work in the company. In this, the number of people working in retail stores is 81 percent. And the rest of the employees work at the corporate level.
Amazon also started layoffs
Apart from Gap, the world’s largest e-commerce store Amazon has also decided to lay off on a large scale. The company is about to lay off a total of 9,000 employees. In such a situation, Amazon has also started informing its employees in retail, device and HR department and cloud services. Employees of those services are being shown the way out where the sales of the company have come down.
