Nike to cut 2%, or 1,600 jobs, as athletic wear giant cuts costs and reinvests in areas like health
Nike is cutting 2% of its global workforce, or a little over 1,600 jobs, as the athletic wear giant aims to cut costs and reinvests its savings into what it sees as big growth areas like sport, health and wellness
By ANNE D'INNOCENZIO
Published - Feb 16, 2024, 11:12 AM ET
Last Updated - Feb 16, 2024, 11:12 AM EST
NEW YORK (AP) — Nike is cutting 2% of its global workforce, or little over 1,600 jobs, as the athletic wear giant aims to cut costs and reinvest its savings into what it sees as big growth areas like sport, health and wellness.
Nike, based in Beaverton, Oregon, joins a growing number of companies including Estee Lauder and Levi Strauss & Co. that have announced job cuts in recent weeks.
“Nike’s always at our best when we’re on the offense,” Nike said in an emailed response confirming the layoffs.
As of May 31, 2023, Nike employed roughly 84,000 workers, according to its annual report.
