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[ad_1] Gap will lay off about 1,800 employees, more than three times as many as the 500 layoffs it announced in September , as part of a broad effort to cut costs and streamline operations, the company said Thursday.  The layoffs will affect roles at Gap's headquarters locations along with upper field positions, or workers such as regional store leaders who hold leadership titles outside of a headquarters office, the company said. CNBC reported Tuesday that the company would lay off more than 500 employees. The job cuts come as the apparel retailer struggles to return to profitability while sales sag. The layoffs are expected to result in annualized savings of $300 million, Gap's interim CEO, Bob Martin, said in a statement. Gap expects to see half of those savings in 2023, and expects to complete the layoffs by the end of July, according to a securities filing. "We are taking the necessary actions to reshape Gap Inc. for the future — simplifying and optimizing our ...

[ad_1] Juul Labs signage is seen in the window of a store in San Francisco, June 25, 2019. David Paul Morris | Bloomberg | Getty Images Juul Labs said Wednesday it's planning to cut about 30% of its workforce as it looks to cut costs and boost profits. The layoffs will affect about 250 people, reducing the company's headcount to about 650, a company spokesperson said. This will reduce operating expenses by $225 million, the Juul spokesperson added. Juul, which is seeking federal authorization to keep its e-cigarette products on the market, said the cuts will improve its margins and free up cash for litigation settlements. "Today, Juul Labs is announcing a company restructuring aimed at reducing our operating costs and positioning us to continue to advance our mission during a period of regulatory and marketplace uncertainty," the company said in a news release . Last year, the vaping giant had its products ordered off the market by the Food and Drug Administrati...

[ad_1] Last Updated: April 26, 2023, 03:05 IST Rise in profit show that search engine behemoth Google is regaining its footing. (File Photo) Its quarterly revenue came in at nearly $70 billion, a billion better than expected by analysts Google parent company Alphabet beat market expectations in the first quarter of 2023 with a net profit of $15 billion, the company said on Tuesday, in a sign that the search engine behemoth is regaining its footing. The tech titan has found itself under pressure due to a general slowdown in advertising spending, over-hiring during a Covid-era boom and a major challenge by Microsoft on artificial intelligence. Its quarterly revenue came in at nearly $70 billion, a billion better than expected by analysts, and in the same three-month period that the company said it would lay off 12,000 staff, or six percent of its workforce. In its results, Google announced a $2 billion charge for expected costs for the sackings. Google became a focus of worry when M...