- NEWS Desk Global
NIKE WILL LAY OFF 740 EMPLOYEES AT OREGON HEADQUARTERS
Nike is set to lay off approximately 740 employees at its world headquarters in Oregon as part of its cost-saving measures. The decision comes after the sportswear giant warned of a revenue decline in the first half of fiscal 2025. The layoffs, described as the "second phase of impacts," are expected to begin by June 28.
Nike had previously announced plans to save $2 billion over the next three years and had initiated workforce reductions in February, affecting about 2% of its total workforce. The company's shares have declined nearly 13% this year amid ongoing challenges in the demand environment.