​Gap to slash hundreds of jobs, shutter 180 stores

San Francisco-based clothing giant Gap, Inc. (NYSE: GPS) will lay off 205 workers and shutter about 180 stores, the company announced Monday. Most of the job cuts and store closures will be felt in North America. Gap did not specify which stores would close. The company has three stores in the Triangle. Closing the stores will result in the loss of $300 million in annual sales as well as one-time costs of up to $160 million. The cuts will save the company $25 million annually. Kirwan added, “These…
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