22/04/2024  Nike to lay off 740 employees at Oregon headquarters


Nike will lay off about 740 employees at its world headquarters in Oregon, a letter showed on Friday, as the top sportswear maker looks to rein in costs after warning of a revenue dip in the first half of fiscal 2025.

The "second phase of impacts" would begin by June 28 at its headquarters, Michele Adams, Nike's vice president for people solutions, said in a legally mandated notice to state authorities.
The company's shares were up marginally in after-hours trading. They have declined nearly 13% this year.
Nike had in December announced a cost savings plan for $2 billion over the next three years, and in February said it would cut about 2% of its total workforce, or more than 1,600 roles.
It had about 83,700 employees as of May 31, 2023.