News

In addition to 1,000 jobs announced earlier this month, the news takes the company’s hiring roster to 2,000.

The shops and the two manufacturing facilities that serve them will close by the end of September.

Clothing giant Gap, Inc. (NYSE: GPS) will lay off 250 workers at its San Francisco headquarters and shutter 175 stores, the company said Monday.

The wind-down will occur in “a staged process” over the next two months. Production at the Chatsworth factory will shift to plants in either Mason, Ohio, or Jacksonville, Fla., Mullen said, as those facilities share the same manufacturing process and capabilities.

Although business advocates and economists argue over the effect of lost headquarters, it’s clear that Southern California has seen a run of major corporate departures in recent years. Whether that reflects poorly on the local business or regulatory climate is a more complicated question.

The $15 million state tax credit would be in return for Tesla (NASDAQ: TSLA) creating about 4,500 jobs across its facilities in Fremont, Hawthorne, Lathrop and Newark, said Brook Taylor, a deputy director of the Governor’s Office of Business and Economic Development. The agency administers the California Competes program.

Bank of America will close its longtime back-office operation in Rancho Cordova by Oct. 1, costing about 160 jobs.

Elon Musk says his companies don’t need the estimated $4.9 billion they enjoy in government support, but the money will help them move faster to transform the dirty business of energy.

The job reductions follow the closing of the sale last Thursday of the Union-Tribune to the parent company of the Los Angeles Times. The acquisition by the Tribune Publishing Co. will allow for the consolidation of the two newspapers’ printing operations, which will move from Mission Valley to Los Angeles, where the Times is printed daily, along with national publications delivered to San Diego County subscribers.

KCBS-TV reports (http://cbsloc.al/1cU4CSN) hundreds of workers at the publication’s Southern California office were laid off on Friday after they met their weekly deadline.

Japanese equipment manufacturer Kubota Tractor Corp. and its financing arm Kubota Credit Corp. are leaving Torrance. And like a handful of other companies that have left the area lately, Kubota is decamping for the Lone Star State.

“Farmer Bros. told the Business Journal earlier this year that it expected its relocation plan to result in annual savings of from $12 million to $15 million, beginning in the latter half of next year. However, moving will cost the company between $35 million to $40 million in new facility costs with an additional $20 million to $25 million in anticipated capital expenditures for furniture, machinery, equipment and other necessities. The company expects the cost of moving to be partially offset by profits from the sale of its Torrance headquarters, which company officials believe to be worth as much as $35 million.”

Chevron has announced it will move 100 jobs from its San Ramon corporate headquarters to Houston this year. . . Last year, Chevron announced it was transferring 400 jobs from San Ramon to Houston.

The space tourism company founded by British billionaire Richard Branson said it was opening a facility next to the Long Beach Airport that would eventually employ 100 engineers and other employees.

Farmer Bros. said it expects its relocation plan to result in annualized savings of $12 million to $15 million, beginning in the latter half of fiscal 2016.