Nike to lay off 2% of employees, cutting more than 1,500 jobs during broad restructuring
Publishing timestamp: 2024-02-16 09:46:03
Summary
Nike is cutting 2% of its workforce, or more than 1500 jobs, as part of a restructuring plan to save $2 billion over the next three years. The company aims to reinvest in growth areas such as running, women's, and Jordan brand. The layoffs will not affect retail employees or warehouse workers. Nike is facing challenges with a slowdown in consumer spending and competition, but CEO John Donahoe believes the company will emerge stronger.
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Keywords: labor economy, nike inc, business news, personnel, layoffs, retail industry, sports, breaking news: business, john donahoe,