Gap could consider layoffs to cut costs

Gap could consider layoffs to cut costs

News media group New York Post has claimed in a report that the Clothing retailer Gap Inc. is considering cutting a large number of jobs to cut costs.

The report cited three people who are familiar with the internal talks going on in the company. The report in the paper said that these upcoming job cuts would occur at all levels of the company.

Gap currently employs around 150,000 people and the paper claimed that the cuts would be aimed at eliminate a stifling bureaucracy in the company’s operations.

Gap spokesman Greg Rossiter was quoted as saying in the report that these upcoming cuts were part of the company’s cost-control plan. The company has officially not commented on these latest rumors.

Gap Chief Executive Paul Pressler had resigned earlier this year as he failed to improve the company’s performance in the market after two years of weak sales.