Just Earth News | @justearthnews | 16 Feb 2024, 06:12 am Print
Nike Nike planning to slash 1600 employees. Photo Courtesy: Unsplash
US sportswear giant Nike is planning to slash 1,600 people, which comprises 2 percent of its workforce, media reports said.
According to reports, the company is planning the move to cut costs.
Nike Chief Executive John Donahoe said the company is using its resources to increase investment in categories like running, women’s apparel and the Jordan brand, according to an employee memo reviewed by The Wall Street Journal.
According to reports, the layoffs are not expected to affect employees in stores and distribution centers or those in its innovation team.
The company reported had 83,700 employees as of May 31.
“This is a painful reality and not one that I take lightly. We are not currently performing at our best, and I ultimately hold myself and my leadership team accountable,” Donahoe said in the memo.
Nike is one of the world market leaders in the production of sportswear, footwear and accessories.
It was founded in 1964 and is headquartered in Beaverton, Oregon, the United States.
- Sony’s new BRAVIA 7II TV promises cinema-level picture at home
- World’s longest flights coming? Airbus A350-1000ULR completes first test flight in 22 hours
- Deepfake voice scams are rising—Google has finally stepped in with this fix
- Bitcoin slips below $70,000 for first time since April 8. Why did it happen?
- AI is coming to the doctor’s office—ASUS leads the charge
