Nike to Cut Jobs as It Combats Sneaker Slump
16 June 2017 - 12:17AM
Dow Jones News
By Sara Germano
Nike Inc. is cutting more than 1,000 global jobs as part of a
restructuring to help the sneaker giant battle slowing sales.
The company said Thursday that the layoffs would affect 2% of
its global workforce. The Beaverton, Ore., company employed more
than 70,000 around the world as of last May, including retail
staff.
Nike said the changes were part of a strategy to focus on key
markets, digital sales and fewer products. In recent quarters, the
company has reported slowing future orders for its products in its
North America market.
"We're getting even more aggressive in the digital marketplace,
targeting key markets and delivering product faster than ever," CEO
Mark Parker said.
Write to Sara Germano at sara.germano@wsj.com
(END) Dow Jones Newswires
June 15, 2017 10:02 ET (14:02 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Nike (NYSE:NKE)
Historical Stock Chart
From Apr 2024 to May 2024
Nike (NYSE:NKE)
Historical Stock Chart
From May 2023 to May 2024