Nike has announced another round of layoffs to sack nearly 740 employees. On Friday, the company reported the layoffs to Oregon’s Office of Workforce Investments.
In February, the company announced its plan to trim roughly 2% of its workforce, totaling over 1,600 positions.
Nike told to KPTV, “We are always at our best when we’re on the offense. The actions that we’re taking put us in the position to right-size our organization to get after our biggest growth opportunities as interest in sport, health, and wellness have never been stronger.”
“While these changes will impact approximately 2% of our total workforce, we are grateful for the contributions made by all Nike teammates” It said.
By May 31, 2023, Nike maintained a workforce of approximately 83,700 employees. This strategic move is likely aimed at optimizing operations or adjusting to market dynamics.
The decision reflects a broader trend seen in many industries, where companies streamline operations to enhance efficiency or respond to economic shifts.
Despite the reduction, Nike’s workforce remained substantial, indicating its continued prominence in the global market and its commitment to adaptability in a dynamic business landscape.
Other Layoffs
UBS Group AG is poised to make significant job cuts as it continues to downsize its workforce post the acquisition of Credit Suisse.
The reductions are expected to affect over a hundred positions within UBS’s worldwide investment banking division. This move likely represents UBS’s strategic realignment to optimize operations or integrate personnel following the merger.
Recently, Toshiba Corp. allegedly considered laying off its Japanese workforce by 5,000 employees. The layoff will impact nearly 7 percent of its total workforce in Japan. On the other hand, Google has announced the second major round of job cuts in 2024.
In 2024, the companies may resort to layoffs for various reasons including Financial Challenges, Restructuring, Technological Changes, Technological Changes, and Performance Issues.
So far in 2024, there have been 477 layoffs at tech companies with 103,368 people impacted (931 people per day). In 2023, there were 2,001 layoffs at tech companies 428,836 people impacted (1,175 people per day).
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