Thoughts? Any Gap Layoffs 2020? Any news or rumors?
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are they giving severance or are people being told to walk with no packages?
I don't know if I was laid off. How did they tell you? was it hourly our wage or both? @bgyb+125T80jL were you laid off as the part of the pandemic response; I am sorry for being so direct. I am very nervous, like everyone else. I am not sure, even in my position if I will survive this. Any light you can shed would be greatly appreciated. I am sorry. Thank you.
GAP had a massive layoff yesterday
They will layoff. Corporations will need to protect their bottom line and this is the fastest way to cut cost outside of store closures. Everyone from the stores to those at corporate where I previously worked will be impacted. I survived four rounds of layoffs during my time there and laying off immediately frees up cash flow. As this pandemic continues and even passes, foot traffic in stores will go down and it will be at least 2-3 years for things to get back to "normal" but even then retail will not be the same as it was before. Companies who have a strong balance sheet and e-commerce presence may survive. Value players in retail will win so out if the brand's that Gap owns, I feel Gap and Banana Republic will get hit hard and Old Navy will survive. Not sure about Athleta or Hill City as they're specialized and consumer spending will come down given unemployment rates will rise
The source for that 135K number is this:
This is per our 10K Filing with the SEC, it's a mandatory annual filing:
- As of February 2, 2019, we had a workforce of approximately 135,000 employees, which includes a combination of part-time and full-time employees. We also hire seasonal employees, primarily during the peak holiday selling season.
Stores are closing, if you are not full time and hourly you have problems