Nike Plans to Lay Off 2% of Employees Amid Restructuring 🏢

Nike to Lay Off , 2% of Employees.<br />On Feb. 15, Nike announced that it will <br />cut over 1,500 jobs, CNBC reports. .<br />The company wants to redirect its capital to areas of growth, such as the Jordan brand.<br />CEO John Donahoe discussed <br />the layoffs in a memo.<br />This is how we will reignite <br />our growth. This is a painful reality <br />and not one that I take lightly, John Donahoe, Nike CEO, via memo.<br />We are not currently performing at our <br />best, and I ultimately hold myself and <br />my leadership team accountable, John Donahoe, Nike CEO, via memo.<br />We will emerge stronger and <br />better equipped to fulfill our <br />purpose to serve all athletes <br />and grow the future of sport, John Donahoe, Nike CEO, via memo.<br />The layoffs will occur in two phases, Nike said.<br />The first round will begin now, <br />and the second round will finish by the <br />end of the fiscal fourth quarter in May. .<br />Nike did not reveal which departments <br />will implement layoffs.<br />However, the company did say that retail <br />employees at its stores and warehouse <br />workers will not be affected.<br />Nike unveiled its restructuring plan <br />in December which outlined cost cuts <br />of about $2 billion over three years