Nike to slash over 1,600 jobs to cut costs ...Middle East

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San Francisco: Sportswear giant Nike has said that it will lay off about two per cent of its workforce or more than 1,600 employees in order to cut costs. In an internal memo to employees seen by The Wall Street Journal, Nike Chief Executive John Donahoe said that the company is using its resources to boost investment in categories like running, women’s apparel and the Jordan brand. “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 added in the memo. According to the report, layoffs are not expected to affect workers in stores and distribution facilities, nor thos

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Last updated : 16 February 2024 clock 11:24 AM

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Nike to slash over 1,600 jobs to cut costs ...Middle East

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