Closing New York headquarters will result in over 100 folks losing jobs. This was predictable but wanted to share as it'sh--ting some news channels now. It was covered on our local TV as well - the number is not that big but still, there are many folks who will have to scramble to find new jobs.
See this:
http://wwd.com/fashion-news/fashion-scoops/banana-republic-new-york-headquarters-san-francisco-move-layoffs-1202541226/
Banana Republic said 112 employees would be impacted as it moved its New York headquarters to its other headquarters, in San Francisco, where it will also open a new design center.
A spokeswoman for corporate parent Gap Inc. said the move, which was first revealed in November, is intended to improve the long-term performance of the business, which saw sales fall 2.5 percent in the third quarter, to $467 million.