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Nike announced plans to lay off nearly 1,400 employees as part of an effort to streamline operations and improve efficiency.
Nike will lay off nearly 1,400 employees, mainly in technology roles across global operations.
KEY POINTS
- The layoffs are part of a restructuring to consolidate technology around Beaverton and India's tech center.
- Nike projects a 2% to 4% sales decline this quarter, with China sales expected to drop 20%.
- Nike's Vomero 18 shoe generated $100 million in sales within three months of launch.
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