Monday, August 10, 2015

The Workers Will Pay

Gap Inc. announced on June 15 that it will close about one hundred and seventy-five stores in North America over the next few years, including one hundred and forty this fiscal year. To heighten the insecurity of their employees, Gap's director of public relations in Canada said, "Since the stores are closing over the course of the year, we will be reviewing each store on a case-by-case basis as we prepare for closure or as leases expire." About 250 jobs will be lost from the company's North American headquarters in San Francisco as well as the loss of jobs for the employees at the closed stores. The reason, according to the founder of Level 5 Strategy group based in Toronto is that, "It's a brand that appears to have stalled. They haven't continued to refresh the brand and its value proposition." This means simply that a group of capitalists simply haven't kept up with the competition. That means nothing to the workers, is in no way their fault, but they are the ones who will lose livelihoods. Make no mistake, once capital does not bring in the required return, the workers will pay. John  Ayers.

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