Gap will lay off 1,800 employees in headquarter roles and leadership positions in a cost-cutting initiative that will save the retailer $300 million.
. The layoffs will affect roles at Gap's headquarter locations along with upper field positions, or workers such as regional store leaders who hold leadership titles outside of a headquarter office, the company said.
"We are taking the necessary actions to reshape Gap Inc. for the future – simplifying and optimizing our operating model, elevating creativity, and driving better delivery in every dimension of the customer experience," Martin said. The layoffs will "release untapped potential" across Gap's brands – its namesake line, Old Navy, Banana Republic and Athleta, Martin said.
He noted during the call the apparel retailer's staff has been "dampened by a complicated organizational structure, bureaucracy, and outdated processes" that have held the company back.
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