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The cuts are happening as consumers spend more cautiously and the retail industry prepares for a decrease in demand for non-essential items like clothes and shoes, which are Nike's main products. Read more.
In the midst of the Covid-19 pandemic in 2020, Nike had fired 700 employees in an effort to cut costs during the global lockdown.
Nike recently said in a statement that the company is cutting hundreds of jobs in December 2023, just as recession fears had begun to cool down.
"I am open to work, and I need to be working for my family," he added. Reports also surfaced late last month that one of Vietnam's largest shoe manufacturers for major brands such as Nike and Adidas plans to cut at least 6,000 jobs due to poor orders. �� Nike Layoffs: Jobs Cut Impacted Workers Write About ‘Unexpected Life Event’ on LinkedIn.