Nike to cut about 1% of corporate staff amid turnaround effort, CNBC reports
(Reuters) -Nike is planning on cutting about 1% of its corporate workforce as the footwear giant works towards a turnaround under CEO Elliott Hill, CNBC reported on Thursday, citing a company statement.
The layoffs will not affect Nike’s EMEA and Converse businesses, and it is unclear how many jobs will be impacted, the report added.
As of May 31, Nike had about 77,800 employees worldwide, including retail and part-time employees.
The company did not immediately respond to a Reuters request for comment.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Most investors will find it hard to answer that question with total confidence. Short of a guarantee, which no one can give you, the most successful traders stick to proven best practices without letting hype or hyper-vigilance take over their better judgment.
But that doesn't mean you can't use smart shortcuts. If you're considering NKE, try chatting with WarrenAI, our powerful AI financial assistant.
It's just like ChatGPT for investors, but with access to 10 years of company data, a built-in screener, Wall Street analysts' reports, and earnings call transcripts for real-time, vetted insights.
Even if you end up going with your gut feeling, at least you'll know why.