business / news / / CNBC
Nike announced a new round of layoffs on Thursday impacting approximately 1,400 roles.
Nike is laying off approximately 1,400 employees, mainly from its technology department.
KEY POINTS
- The layoffs are part of Nike's 'Win Now' strategy focused on restructuring technology and supply chain teams.
- Converse Footwear operations will be moved and materials supply chain work integrated with apparel and footwear.
- The job cuts affect employees in North America, Asia, and Europe, totaling less than 2% of global headcount.
- Nike expects a 20% sales decline in China this quarter, impacting overall company outlook.
COMPANIES
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