Nike has just announced that as a part of its restructuring and cost-reducing plans, the Beaverton, Oreg.-based company may eliminate up to 1,400 people (4%) of its 35,000-person workforce.
“In light of the current economic climate, it is more essential than ever to sharpen our focus on the consumer to maximize opportunities for product innovation and brand management in the marketplace," Mark Parker, Nike's president and CEO said in a media release. "The decision to reduce our workforce is a difficult one, but it will put our business in the strongest position possible to continue to deliver long-term profitability and growth.”
The release explained that Nike plans to complete its organizational review by the end of its current fiscal year (May 31). Until that time, the exact number of job losses, and segments of the company that will be affected, is not known.