Despite efforts to revive its apparel and accessories brands - GAP, Banana Republic, Old Navy and Athleta - the company $GPS (-0.72%) announced this week it will lay off 500 employees and cut costs as sales and profits slump. #entlassungen

The layoffs are taking place primarily at Gap's main offices in San Francisco and New York, as well as in Asia. The job cuts come at a time when Gap continues to struggle to lure consumers to what was then an enviable balance of low, mid and high-end offerings that carried everything from $10 Old Navy brand jeans and $5 sunglasses to $500 and up "BR Heritage" brand sweaters.

Source: https://lomazoma.com/gap-entlaesst-500-mitarbeiter-des-unternehmens-da-die-herausforderungen-zunehmen/