Nike to cut 2% of workforce at headquarters
Sportswear brand Nike has announced it will cut around 2% of the workforce at its headquarters in Beaverton, US.
At the start of this year, it said it wanted to save $2 billion over the next three years through simplifying product assortment, increasing automation and job losses.
The company suggested there will be restructuring charges of between $400 million and $450 million that will largely be recognised in the third quarter of fiscal year 2024, primarily associated with employee severance costs.
The company said in a statement: “As a result of a second phase of impacts, which will take effect by June 28, 2024, approximately 740 employees at World Headquarters will have been impacted by this and the recent prior permanent reduction of workforce.”
