Nike's Oregon headquarters is set to eliminate approximately 740 jobs by late June as part of its multiyear cost-cutting plan.
Michele Adams, Nike’s vice president of people solutions, disclosed this intention in a filing with the state of Oregon on Friday, describing it as a “second phase of impacts” as the world’s largest sportswear company trims its workforce, reported Bloomberg.
The reduction at its Beaverton, Oregon headquarters was communicated to state and local officials in a notice mandated by the Worker Adjustment and Retraining Notification Act, said the Des Moines Register.
In December, Chief Executive Officer John Donahoe announced that Beaverton-based Nike would slash its global headcount by 2 percent as management seeks as much as 2 billion dollars in cost savings over the next three years. “Nike’s always at our best when we’re on the offense. The actions that we’re taking put us in the position to right-size our organization to get after our biggest growth opportunities as interest in sport, health, and wellness have never been stronger," the company stated in a statement to USA Today. "While these changes will impact approximately 2% of our total workforce, we are grateful for the contributions made by all Nike teammates.”
According to an internal memo reviewed by Bloomberg News, initial layoffs at Nike began in February, and the company expects to conclude the process by the end of its fiscal year. "To compete, we must edit, shift and divest less critical work to create greater focus and capacity for what matters most,” Donahoe said in the memo.
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