Nike jobs under threat
11/02/2009
Sports brand Nike said on February 10 that it may cut up to 1,400 jobs as part of a restructuring.
The company said it wanted to realign its business and could cut up to 4% of its work force. Nike employs nearly 35,000 people worldwide.
It added that the exact number, timing and location of the positions to be eliminated will not be known until a review of the entire business takes place at the end of May, when the company's fiscal year ends. It will look at its entire supply chain to ensure it is positioned as well as possible to survive the current economic environment.
President and chief executive, Mark Parker, said in a statement: "In light of the current economic climate, it is more essential than ever to sharpen our focus on the consumer,"
He said the work force reduction was a difficult choice but one that would put the business in a strong position to keep growing.
Share this story:
