Nike announced on Thursday that it will cut approximately 1,400 jobs across the organization, with most of the reductions concentrated in its technology department, according to a report from CNBC, citing a memo.
The layoffs are part of Nike’s “Win Now” turnaround strategy, according to a note from Chief Operating Officer Venkatesh Alagirisamy. The company said the cuts aim to reshape its technology team, modernize its air manufacturing, move some Converse Footwear operations, and integrate materials supply chain work into its footwear and apparel supply chain teams.
“Collectively, these changes will result in a reduction of approximately 1,400 roles in global operations, with the majority in technology,” Alagirisamy wrote. “These reductions are very hard for the teammates directly affected and for the teams around them, too.”
A Nike spokesperson said the layoffs represent less than 2% of the company’s total global headcount. The cuts affect employees across North America, Asia, and Europe.
“This is not a new direction,” Alagirisamy wrote. “It is the next phase of the work already underway.”
The company began notifying impacted employees on Thursday. The announcement follows 775 Nike job cuts that took place in January.
Via Agencies
Email your news TIPS to Editor@Kahawatungu.com — this is our only official communication channel
