Gap (San Francisco) is planning to let go of 216 employees at its corporate headquarters.
The retailer also announced it will close select Gap locations, while opening 40 Athleta and Old Navy stores, according to Women’s Wear Daily. At the end of 2016, Gap operated 3659 stores globally.
“To read the headlines today, you’ll see the words dead, dying [and] sick. We are none of those. We are healthy and strong and have a plan and clear direction,” said Gap CEO Art Peck.