Nike will lay off about 2 per cent of its employees, or close to 1,700 people, as the sportswear giant looks to cut as much as $2 billion in costs.
A spokesperson said the actions will put Nike in the position to right-size the organization to achieve its biggest growth opportunities.
According to its latest annual report, the company employed around 83,700 people worldwide as of May 31, 2023.
In December, Nike slashed its revenue forecast and announced cost cuts amid growing concerns that consumers around the world are slowing their spending.
The company said it was looking for up to $2 billion in savings over the next three years.
All feeds
