Nike, Inc. (NYSE:NKE) is reportedly set to cut around 740 jobs at its Oregon headquarters, aiming to trim expenses following a projected revenue decline in the first half of fiscal 2025.
By June 28, the “second phase of impacts” will commence at Nike’s headquarters, confirmed Michele Adams, the company’s vice president of global people solutions, Reuters reported.
In December, Nike unveiled a cost savings plan targeting $2 billion over three years. By February, it planned to cut over 1,600 jobs, roughly 2% of its workforce.
As of May 31, 2023, Nike had approximately 83,700 employees.
Amid the announcement ...