Is this really happening, hearing many rumors about layoffs in San Francisco.
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The company just laid off lower (grade 4) & upper level (grade 12) leadership in stores (kept GM's) and are replacing them with all part time leaders paying well below what they used to. They are low balling the impacted leaders with positions. Once they "offer" the impacted employee a lower pay and that person does not accept the pay they'll lose their severance package... They'll get mediocre leaders for mediocre pay. Bad move.
Rumours are true. The outlet team is the last team in SF and it is getting absorbed by the teams in NYC. Outlet made half of the money with half the stores and 1/20th the headcount. Looks like GAP is giving up its cash cow.
Sales are still in the dumpster considering how poor sales have been trending year over year. The spin that just came out for 2016 sales is comical. Going to be interesting to watch the train stay on the tracks in the years ahead.
All of the "political" fires where people actually had talent were already let go or left on their own. Gap has been under-paying employees and not paying bonuses for over 3 years now. There are some exceptions of course in the form of boot-lickers and a---kissers. Any employees that stayed this long and are laid off are simply unemployable.
216 people to go in March from San Francisco
fire. a bunch of hobos standing around burning garbage trying to get as much warmth as they can out of it before it dies. how apt.
Nice post, The company is a complete dumpster fire that manages expenses in a manner that it make in an umbearable place to work. The only people who stay are lifers prepared to go down with the ship. They are Way over built in the Brick and Mortar space and have no ability to compete in the E-commerce channel. Eventually some equity firm may make an offer just for Old Navy then close Gap and BR. I think that fire was a planned Arson as well.
Gap has failed at selling clothes for a decade now. Fast fashion is the new name of the game and Gap does not have a pipeline nimble enough to recover. Out-dated fashion, slow-pipeline, low consumer confidence, quality issues, off-shore operations moves, a fake fire to boost numbers, CFO walk-out, CEO, CIO, and CSO in denial about the state of their technology. Anyone still working for that company is in denial. Run fast. Run far. Or stick around and see if this is the combination for winning or a big turn-around.
the bigger they are, the harder they fall