Nike plans to cut about 2% jobs
Nike's global peers Adidas, Puma and JD Sports, too, have warned of weaker earnings this year, as consumers cut back on non-essential spending. In December, Nike had outlined a $2 billion savings plan over the next three years through steps including tightening the supply of some products, improving its supply chain, reducing management layers and increasing the use of automation. The company had also announced that it would incur about $400 million to $450 million in employee severance costs in the third quarter.
Source: yahoo.com
