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These Stocks Are Moving the Most Today: First Republic, Northern Trust, UPS, GM, GE, 3M, and More

CARD First Republic falls sharply after deposits at the regional lender sink, United Parcel Service trims its revenue outlook, General Motors crushes earnings estimates, and 3M says it will cut another 6,000 jobs. Read More...

The Wall Street Journal

Gap Plans to Lay Off Hundreds of Corporate Workers in Latest Cuts

Gap is eliminating hundreds of corporate jobs from its global workforce as part of a broad restructuring aimed at making the company more nimble and less bureaucratic, according to people familiar with the situation. More recently, the leaders of each of the company’s brands—Gap, Old Navy, Banana Republic and Athleta—have been conducting a wide-ranging review with the goal of stripping out layers of management to speed decision making, the people said. “Our goal is to flatten the organization, increase spans of control to create more robust roles and individual empowerment, and decrease layers to remove bottlenecks and make better, faster decisions,” according to a memo from Gap Chairman and interim Chief Executive Bob Martin to employees last week.

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