This announcement comes weeks after Nike implemented a round of layoffs and an internal email that told Nike employees to expect various organizational changes.
BEAVERTON, Ore. — Nike announced a $2 billion cost-cutting and restructuring strategy Thursday that it says will support future growth but appears to signal deep workforce cuts.
This streamlining of the business, Nike said, will “result in pre-tax restructuring charges of approximately $400 million to $450 million … primarily associated with employee severance costs.”
The company announced its plans in its second-quarter earnings report.
Areas that Nike (NYSE: NKE) said have potential for savings include simplifying product assortment,
→ Continue reading at KGW TV