Nike to cut 1750 jobs globally

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http://online.wsj.com/article/SB124234874426222123.html

Nike Inc., the world’s largest maker of sportswear by sales, said Thursday it would cut 1,750 jobs in its world-wide operations, or about 5% of its workforce.

Roughly 500 jobs will be lost at its Beaverton, Ore., headquarters, the company said. A Nike spokesman did not elaborate on how the cuts were distributed among the company’s departments and its subsidiaries.

Nike first indicated in February it was undergoing a review of its operations in an effort to change how it does business. The next month, some executives were asked to leave as a part of a management shuffle.

The company spokesman said individual employees cut today would be notified in coming weeks.

“We remain a growth company and we know these changes have created a stronger organization that will enable us to invest in our most significant opportunities,” said Mark Parker, Nike’s president and chief executive officer. “However, the decision to reduce our workforce has been a difficult and challenging one as it affects our colleagues, teammates and friends.”

Nike remains the industry leader and continues to take market share from competitors like Adidas AG. But the sportswear market has begun to soften amid larger declines in the retail sector. On its earnings call last quarter, Nike indicated that it was facing tougher times ahead as its futures orders declined 10%.

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i bet all 1750 jobs are lost in the usa..why get rid of jobs were workers are paid peanuts..get rid of the high paying factory workers is the game

401

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~ by seeker401 on May 15, 2009.

5 Responses to “Nike to cut 1750 jobs globally”

  1. Oh, It’s really a bad news, I think it’s due to the global meltdown.

  2. wag1 i love ike stuff they r wicked!!!!!! lol

  3. wat the hell you guy’s make really goog shoes and i know money is tiet but come on you are cuting back to much:(

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