---
schema_version: "secwatch.filing_event.v1"
accession: "0000039911-23-000026"
form_type: "8-K"
ticker: "GAP"
cik: "0000039911"
company_name: "GAP INC"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:44:17.195656+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Gap announces restructuring plan to cut 1,800 jobs with $100-120M costs, $300M annual savings

## Summary
- Workforce reduction of ~1,800 employees, primarily headquarters and upper field staff.
- Estimated pre-tax costs: $100M-$120M (employee-related $75-$85M, consulting/other $25-$35M).
- Annualized pre-tax savings expected ~$300M; ~$150M in 2023.
- Actions expected substantially complete by end of H1 fiscal 2023.
- Company previously flagged these actions in March 9, 2023 press release.

## SEC filing metadata
- accession: 0000039911-23-000026
- form_type: 8-K
- ticker: GAP
- cik: 0000039911
- company_name: GAP INC
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.05, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39911/000003991123000026/0000039911-23-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39911/000003991123000026/gps-20230425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039911-23-000026
- JSON: https://secwatch.observer/filing/0000039911-23-000026.json
- Plain text: https://secwatch.observer/filing/0000039911-23-000026.txt

## Key facts
- Restructurings & Charges
  GAP INC announced a restructuring with charges of approximately $100 million to $120 million (approximately 1,800 employees).
  - Type: restructuring
  - Charge: approximately $100 million to $120 million
  - Headcount: approximately 1,800 employees
  source text: that includes a reduction of the Company's headquarters and upper field workforce by approximately 1,800 employees. The Company estimates that it will incur approximately $100 million to $120 million in aggregate pre-tax costs in connection with the Plan, which consists of approximately $75 million to $85 million in employee-related costs and $25 million to
  evidence_url: https://www.sec.gov/Archives/edgar/data/39911/000003991123000026/0000039911-23-000026-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.