Nike Cuts 40% of Senior Positions in Latest Layoffs

Nike, the US sportswear giant, has laid off 40% of its senior staff, including vice presidents and higher roles, in its latest round of job cuts. The layoffs are part of Nike’s efforts to reduce costs amid financial challenges, such as declining sales and a drop in shareholder value. The company plans to eliminate 740 jobs at its Oregon headquarters by June 28 as part of a broader restructuring initiative to save $2 billion over three years.