VCR - Nike's Converse Brand Slashes Jobs As Part Of Cost-Cutting Move: Report | Benzinga
Converse footwear brand is reportedly cutting jobs as parent company Nike Inc. (NYSE:NKE) continues its cost-saving measures by reducing its workforce.
Nike is implementing a $2 billion plan to reduce expenses, which includes eliminating 2% of its global workforce. The layoffs have affected its Oregon headquarters in two phases and are expected to be completed by the end of its fiscal year, reported Bloomberg.
Converse, based in Boston, handles its own product development, supply chain, and marketing. The brand also incorporates Nike technology into ...