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Nike Implements Second Phase of Job Cuts at Oregon Headquarters

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Published: Monday, 22 April 2024 11:32

Nike Inc. has announced that it will eliminate over 700 jobs at its headquarters in Beaverton, Oregon, by late June as part of its ongoing cost-cutting efforts. Michele Adams, Nike's vice president of people solutions, disclosed this information in a filing with the state of Oregon, characterizing it as a "second phase of impacts" in the company's workforce reduction strategy.

This move comes after Nike's Chief Executive Officer, John Donahoe, revealed plans in December to reduce the global headcount by 2% as part of a broader initiative aimed at achieving up to $2 billion in cost savings over the next three years. The process of layoffs began in February, and the company aims to complete it by the end of its fiscal year, as outlined in an internal memo reviewed by Bloomberg News.

Donahoe emphasized the necessity of these actions in a memo, stating, "To compete, we must edit, shift and divest less critical work to create greater focus and capacity for what matters most."

The decision reflects Nike's strategic effort to streamline operations and prioritize essential aspects of its business in a competitive market landscape.