This is just the first wave, to stay competitive we’ll have to cut ever more. All of us in Corporate will have to adjust and accept our new reality, the years of growth are gone. IT will be on the chopping block all the time, they are compensate the most (per head) and that’s where the biggest savings will come – we have some groups in the IT nobody knows what value they provide and what they do. Stores will suffer also, they always get hit hard and it’s really sad to see our footprint shrink, with this being said, our online group will be increased as they will continue to push for online sales. The Gap is not the only company doing this, just look around the industry.
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At a recent IT Quarterly Update meeting, the CIO announced that there will be layoffs with Gaptech and that he is looking at "eliminating senior positions". As much as I am worried about losing my job...I am as equally happy that management "fat" will be trimmed! Do yourselves a favor and look at other retail companies. The market is hot right now...especially in the SIlicon Valley. Best of luck....
GapTech Finance, Growth, Innovation & Digital (GID) division
Good luck to all of us