Nike Plans Job Cuts Under Sweeping Restructuring Plan
The plan will save $2.5 billion over four years and includes an unspecified number of job cuts as Nike reworks its sales structure.
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7 Articles
The manufacturer of sportswear seeks to improve its performance after a quarter with reduced profits and declining sales.Nike projects job cuts and will open a new headquarters in India, focusing on agility and efficiency for the future.
[Cable News] Nike's quarterly results missed expectations, and the company announced layoffs for next year. The sportswear brand Nike earned $710 million last quarter, a 2% drop, with earnings per share of $0.48.
Nike plans job cuts as sales fall and outlook weakens
Nike is tightening its cost-cutting drive as the US sportswear giant seeks to emerge from a downturn partly of its own making. The company said a restructuring programme would deliver savings of $2.5 billion over the coming years. Job cuts will also form part of the measures, chief executive…
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