Nike downsizes global headquarters' workforce with 740 job cuts

[Jobhunter]

 

Nike, the global sportswear titan, has announced the termination of approximately 740 roles at its global headquarters in Oregon. This decision, part of a broader cost-saving strategy, is expected to commence its “second phase of impacts” by June 28.

 

The Beaverton-based company’s decision follows a warning of a potential revenue dip in the first half of fiscal 2025. This strategic downsizing is part of a larger plan announced in December to save $2 billion over the next three years.

 

In February, Nike revealed plans to reduce its total workforce by about 2%, equating to more than 1,600 roles. As of May 31, 2023, the company had approximately 83,700 employees.

 

As the sportswear industry continues to evolve, companies like Nike are forced to adapt and make tough decisions. But what does this mean for the future of the industry? We’d love to hear your thoughts. Do you think this strategic downsizing will help Nike stay competitive in the long run?

 

 

Read more:

• https://www.oregonlive.com/business/2024/04/nike-says-ongoing-layoffs-will-impact-740-in-oregon.html
• https://www.opb.org/article/2024/04/19/nike-layoffs-740-beaverton-oregon/
• https://bwpeople.businessworld.in/article/Nike-To-Lay-Off-740-Employees-At-Oregon-HQ/20-04-2024-517840/

 

Image: Shuo Wang | Dreamstime.com