Nike to go in for corporate restructuring, cut 1400 jobs

The company said a main focus will be the 12 key cities in 10 countries that it expects to represent more than 80% of its projected growth through 2020
Sample

Oregon-based sportswear maker, Nike Inc. has said that it plans to sell more shoes directly to customers online as part of a restructuring in which it plans to cut about 1400 jobs. It will also reduce the number of sneaker and clothing styles it makes by a quarter and focus on hot sellers.

According to the company, the moves will help it offer more products to customers faster.

Mark Parker, CEO, Nike, said, "We’re getting even more aggressive in the digital marketplace,” said CEO Mark Parker.

The company said a main focus will be the 12 key cities in 10 countries that it expects to represent more than 80% of its projected growth through 2020. It also said it will make its apps, where shoppers can find and buy sneakers, available in more countries.

Nike said the jobs cuts represent about 2 % of its 70000 employees around the world.

 

 

 

 

 

 
 
 
 
TRENDING ARTICLE
RECOMMENDED FOR YOU