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Nike to lay off 740 employees at Oregon headquarters
Reuters ^ | April 19, 2024 | Granth Vanaik

Posted on 04/19/2024 5:19:36 PM PDT by george76

Nike will lay off about 740 employees at its world headquarters in Oregon, a letter showed on Friday, as the top sportswear maker looks to rein in costs after warning of a revenue dip in the first half of fiscal 2025.

The "second phase of impacts" would begin by June 28 at its headquarters, Michele Adams, Nike's vice president for people solutions, said in a legally mandated notice to state authorities.

The company's shares were up marginally in after-hours trading. They have declined nearly 13% this year.

Nike had in December announced a cost savings plan for $2 billion over the next three years, and in February said it would cut about 2% of its total workforce, or more than 1,600 roles.

...

Several companies in the U.S. and Canada have announced new rounds of layoffs, following the spate of reductions in 2023, to cut costs in the face of an uncertain demand environment.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Front Page News; Politics/Elections; US: Illinois; US: Oregon; US: Washington
KEYWORDS: climatechange; getwokegobroke; jobs; nike; oregon
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1 posted on 04/19/2024 5:19:36 PM PDT by george76
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To: george76

2 posted on 04/19/2024 5:21:01 PM PDT by Allegra (Less propaganda would be appreciated. )
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To: george76
Michele Adams, Nike's vice president for people solutions

Hope they're not following the U.S. Government's lead.

3 posted on 04/19/2024 5:22:03 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: george76
From February: Nike cutting 1,600 jobs:

https://freerepublic.com/focus/f-news/4218102/posts

The declining fan interest in professional sports has to figure into lowered sales.

4 posted on 04/19/2024 5:23:40 PM PDT by T.B. Yoits
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To: george76
Cue Jerry...


5 posted on 04/19/2024 5:23:52 PM PDT by xp38
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To: dragnet2
"Nike soles are... people!"
6 posted on 04/19/2024 5:25:37 PM PDT by who_would_fardels_bear (Kafka was an optimist.)
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To: george76

“vice president for people solutions”

Newest name for Personnel and HR?


7 posted on 04/19/2024 5:26:34 PM PDT by ProtectOurFreedom (“When exposing a crime is treated like a crime, you are being ruled by criminals” – Edward SnowdenA)
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To: george76

Believe in something ....

Even if it means firing 740 employees

Oh wait, Nike.......

Wassup, Nike?

Believe in something......

(Sorry for the employees)


8 posted on 04/19/2024 5:31:33 PM PDT by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: george76

They have hope....
“444 Climate Change jobs available in Oregon” on Indeed.

True story. Young worker at the university where I worked looked into an environmental summer job in a forest.

It was climbing up or being hoisted up trees by crane to take birds by hand and snap their necks to kill them, to re-balance the ecology.


9 posted on 04/19/2024 5:32:26 PM PDT by frank ballenger (There's a battle outside and it's raging. It'll soon shake your windows and rattle your walls.)
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To: who_would_fardels_bear

(people solutions)

Here at Nike, we turned 740 people into

Soylent Nike


10 posted on 04/19/2024 5:33:07 PM PDT by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: frank ballenger

(It was climbing up or being hoisted up trees by crane to take birds by hand and snap their necks to kill them, to re-balance the ecology.)

Good heavens! 😲😱🙀🤯😳


11 posted on 04/19/2024 5:34:03 PM PDT by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: T.B. Yoits

Nike made it big by creating a new trend, Air Jordans. Before that basketball was all Converse.

Now Nike is the old, stale company.

Their people must find new markets or get someone who can.


12 posted on 04/19/2024 5:46:18 PM PDT by packagingguy
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To: george76

These closings/layoffs are an almost daily occurrence. When the government screws up the economy people can’t afford overpriced shoes.


13 posted on 04/19/2024 6:15:21 PM PDT by TermLimits4All ("If you stand for nothing, you'll fall for anything.")
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To: george76
" Nike to lay off 740 employees at Oregon headquarters"

OH NO! Does this mean there's been an interruption to welfare checks?

14 posted on 04/19/2024 6:32:23 PM PDT by Paal Gulli
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To: george76

The people who used to buy Nike are now looking to buy orthopedic shoes. The young people are buying cheap sneakers thru online Chinese companies. Truth!


15 posted on 04/19/2024 6:36:09 PM PDT by Ciexyz (Prayers for America and Israel.)
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To: TermLimits4All
"When the government screws up the economy people can’t afford overpriced shoes."

Shoes made overseas with cheap labor.

16 posted on 04/19/2024 6:36:28 PM PDT by chief lee runamok ( Le Flâneur @Large)
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To: chief lee runamok

“Shoes made overseas with cheap labor.”


I thought Nikes were already made overseas with cheap labor.


17 posted on 04/19/2024 6:56:48 PM PDT by oldplayer
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To: frank ballenger

Smaller scale, but how is that different from Mao’s Great Leap Forward crap?


18 posted on 04/19/2024 7:00:47 PM PDT by Tijeras_Slim
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To: george76

well, Nike had to pay out all those huge contracts for the University of Oregone bb/football players so what do we expect....its just the workers and their families...aren’t the bb players more important?


19 posted on 04/19/2024 7:27:37 PM PDT by cherry
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To: george76

More layoffs. Another feature of the bidet economy.


20 posted on 04/19/2024 7:50:12 PM PDT by Texas resident (Biden=Obama=Jarrett=Soros)
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