Gap said Thursday that it will lay off 1,800 employees as it seeks to rein in costs amid the uncertain economic environment.
The job cuts, which will affect workers at the company's headquarters and upper field workforce, are part of several actions that the company is taking to "simplify and optimize its operating model and structure," including decreasing management layers, according to a filing with the Securities and Exchange Commission.
The company expects to save $300 million as it optimizes its operation and sheds its workforce.
In September, the company eliminated 500 corporate jobs.
This is a developing story. Check back for updates.
