1,400 will lose their job in Nike
Around 1,400 people must leave Nike. The shoe manufacturer will also cut the number of models with a quarter.
Nike announced Thursday tightening plans which, among other things, mean cuts in the number of shoe models with a quarter.
Around 1,400 positions are scheduled to be cut. This means 2 per cent of the company’s 70,000 employees worldwide.
Restructuring also means that Nike will sell more shoes directly to consumers via the internet at the expense of the company’s own stores.
Nike, headquartered in Beaverton, Oregon, defines twelve key cities in ten countries as the main focus. These sites will account for more than 80 percent of the company’s expected growth until 2020.
The Nike stock fell over 2 percent after Thursday’s announcement.
© NTB Scanpix / Norway Today