Nike To Lay Off 740 Employees

By : Cheddar News

Published On: 2024-04-23

2.1K Views

00:38

NIKE WILL BE LAYING OFF APPROXIMATELY 740 EMPLOYEES AT ITS WORLD HEADQUARTERS IN OREGON, ACCORDING TO A LETTER RELEASED ON FRIDAY.

THE TOP SPORTSWEAR MAKER AIMS TO CONTROL COSTS AFTER WARNING OF A REVENUE DECLINE IN THE FIRST HALF OF FISCAL 2025.

IN DECEMBER, NIKE ANNOUNCED A $2 BILLION COST SAVINGS PLAN OVER THE NEXT THREE YEARS. IN FEBRUARY, THE COMPANY STATED IT WOULD CUT ABOUT 2% OF ITS TOTAL WORKFORCE, OR OVER 1,600 ROLES.

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