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'Poor results':
Gap fires over 1,000 workers

The US multinational clothing retailer Gap announced earlier this week that it has laid off more than 1,000 workers and 'eliminated 1,600 positions'. Most of those affected have worked at the company's headquarters. Also 240 Banana Republic workers lost their jobs.

Gap's distribution centres in Ventura, California and Rugby, Great Britain, will also be closed. This will affect altogether 425 workers.

Gap has done worse than expected this year, with a 12 per cent decline in same store sales in July.