[Gap will cut hundreds of jobs around the world] according to people familiar with the matter, US fast fashion brand Gap will cut hundreds of jobs around the world as part of a massive restructuring aimed at making the company more flexible. The scale of this round of layoffs is expected to exceed about 500 corporate jobs laid off last September, one of the people familiar with the matter said. The layoffs, mainly in main offices in San Francisco and New York, are part of an effort to save about $250 million a year. (Wall Street Journal)