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Gap to hire fewer workers for holiday season

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FILE PHOTO: The brand of GAP clothes retailer is seen at an organization’s retailer at Tbilisi Mall in Tbilisi, Georgia, April 22, 2016. REUTERS/David Mdzinarishvili

(Reuters) – Gap Inc (GPS.N) mentioned on Thursday it plans to hire greater than 30,000 seasonal workers for the upcoming holiday season, decrease than the 65,000 goal the attire retailer had set for 2018.

The holiday season, which incorporates Black Friday, Christmas and New Year, is the busiest time of the 12 months for retailers and brings in a majority of their whole gross sales.

A Gap spokeswoman mentioned whole seasonal hiring is decrease this 12 months to give present staff the chance to choose up extra hours.

Hiring plans typically point out gross sales expectations of outlets and are available in opposition to the backdrop of a softening retail surroundings and a protracted U.S.-China commerce warfare that has threatened to improve prices for retailers.

Big-box retailer Target Corp (TGT.N) mentioned earlier this month that it deliberate to hire greater than 130,000 retailer staff for the holiday season, a roughly 8% rise from final 12 months, however a lot decrease than the 20% improve in 2018 and a 43% leap in 2017.

Retail jobs contracted for a seventh straight month in August to hit their lowest since January 2016, which hinted at softer U.S. shopper spending going into the Christmas season.

Gap mentioned on Thursday it will host a one-day occasion on Oct. 5 in any respect its shops, in addition to choose distribution and buyer facilities throughout the United States and Canada to hire as many as 5,000 work associates as a part of the holiday hiring plan.

Shares of the corporate had been down about 2% in afternoon buying and selling.

Reporting by Soundarya J in Bengaluru; Editing by Sriraj Kalluvila


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