US sportswear brand announces job cuts and simplification of product ranges in ‘streamlining’ of operations
Nike is to cut hundreds of jobs, simplify its product ranges and increase its use of automation as part of attempts to save $2bn (£1.6bn) in costs over the next three years amid poor sales.
The US sportswear brand said it was “taking steps to streamline the organisation” and would be spending up to $450m on the changes, mainly on payoffs for employees.
More Stories
Bodies recovered from illegal goldmine in South Africa where many feared dead
Italy seeks to protect restaurants and hotels from fake and paid-for reviews
‘Don’t allow you to go to the bathroom’: big tech’s call center workers in Greece on strike