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Nike to slash 2% of global workforce, over 1,500 jobs affected


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Nike, the athletic giant, is laying off 2% of its global workforce. This decision comes after months of speculation and is part of Nike’s strategy to “streamline” the organization. The company aims to save up to $2 billion in costs over the next three years.

 

The layoffs will primarily affect corporate workers. Nike, one of fashion’s largest employers, has more than 83,000 employees worldwide. The company’s decision to downsize was expressed as a “painful reality”  in an email to staffers late Thursday by John Donahue, the president and CEO of Nike.

 

Nike’s restructuring strategy, announced in December, includes simplifying the product assortment, increasing automation and use of technology, and leveraging scale to drive efficiency. 

 

As Nike navigates these challenging times, it’s interesting to see how the company will adapt and evolve. The question remains: How will these changes impact Nike’s future growth and its position in the increasingly competitive market? What are your thoughts on this development?

 

 

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