Nike is cutting 2% of its current workforce, or more than 1,500 jobs, as it looks to redeploy its resources amid a broad restructuring.
Nike Inc. is reportedly looking to cut more than 1,600 jobs, as part of its plan to cut costs so it can create capacity to boost profitability and innovation.
Nike plans to use the savings to invest more in areas such as running, women's apparel and the Air Jordan brand, according to a report from The Wall Street Journal.

Nike plans to cut about 2% jobs

11:05pm, Thursday, 15'th Feb 2024
Nike on Thursday said it will cut about 2% of its total workforce, or more than 1,600 jobs, as the sportswear giant looks to cut costs after flagging weaker profits this year.

Nike to Cut Over 1,600 Jobs

10:52pm, Thursday, 15'th Feb 2024
The layoffs are part of the sneaker giant's plan to shed $2 billion in costs over the next three years.
In the most recent trading session, Nike (NKE) closed at $106.33, indicating a +1.27% shift from the previous trading day.

Bullish On TSLA, Bearish On NKE, WMT

01:33pm, Wednesday, 14'th Feb 2024
Nike (NKE), Walmart (WMT), and Tesla (TSLA) are today's big three stocks. Don Kaufman and Ben Lichtenstein discuss the technical trends, as well as how to trade these names.
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