The athletics retailer has revealed plans to lay off 700 employees from its headquarters by the beginning of next year.
Nike field a WARN (Worker Adjustment and Retraining Notification) notice in July after announcing plans to concentrate on their direct to consumer strategy. The company decided to take this route as their revenue declined by 38 per cent as a result of store closures across North America, EMEA and APLA as a result of the Covid-19 pandemic.
At the time of this WARN notice, John Donahoe commented: “The global pandemic has made it clear that consumer behaviour is changing rapidly, providing the opportunity for us to accelerate the pace of our transformation.”
The original plans included around 500 job cuts. The newly updated WARN notice now reveals plans to lay off 700 employees.
