Nike Implements Major Workforce Reduction, 1,600 Jobs Affected

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Nike Implements Major Workforce Reduction, 1,600 Jobs Affected

The international clothing firm Nike intends to make significant layoffs that will impact more than 1,600 workers, or around 2% of its total workforce worldwide. This decision comes amidst shifting consumer preferences and decreased demand for its products. The company’s CEO, John Donahoe, outlined plans to reallocate resources towards key areas such as women’s apparel, running gear, and the iconic Jordan brand.  In a company-wide memo, Donahoe …