As part of its decision, Gap Inc. will furlough the majority of its store employees in the U.S. and Canada, and also reduce members of its corporate offices across the world.
The company also stated that they are temporarily putting a halt on pay, but will "continue to offer applicable benefits until stores are able to reopen."
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Members of Gap's leadership team and the Board of Directors are also taking a temporary pay reduction.
"We know that tens of thousands of people rely on us to support themselves and their families, and that millions more around the world rely on our business. We are doing everything we can to provide support during this time, and we are intensely focused on welcoming back our store teams and customers as soon as we are able," said Sonia Syngal, President and CEO, Gap Inc.
The San Francisco based clothing company previously announced on March 17 a temporarily closure of all stores including Old Navy, Athleta, Banana Republic, Janie and Jack and Intermix stores across North America. All the brands will continue to be available for purchase through their websites.
Today we announced temporary closure of @OldNavy, @Athleta, @BananaRepublic, @Gap, @JanieandJack and @Intermix stores across North America, effective March 19. Details here: https://t.co/rzhjglEEwV pic.twitter.com/QkHtOfRiAZ— Gap Inc. (@GapInc) March 18, 2020
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