The Gap Inc. laid off 500 employees in its San Francisco and New York offices, the latest in a string of corporate and tech layoffs impacting San Francisco's limping office market.
Additionally, the company instituted a hiring freeze for several open positions, the San Francisco Chronicle reported.
The California Employment Development Department received a Worker Adjustment and Retraining Notification on Sept. 21 indicating 104 Gap employees would be laid off from the company's 2 Folsom St. location in San Francisco on Nov. 7.
An additional seven employees at the company’s 1 Harrison St. location in San Francisco are set to be let go on the same date. It is unclear if The Gap plans to divest of its existing office space in the city.
Layoffs have hit San Francisco hard in recent months, with hints that the pain is just beginning as recession fears loom.
Tech company Twilio recently announced plans to lay off 11% of its workforce amid internal restructuring, one of the recent examples of employee downturn within the city.
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