Nike Ups Layoff Headcount to 700
The Eager Beavertons filed a state notice upping the number of layoffs at its headquarters from its previously announced restructuring by 200. Since the $200-250 million restructuring effort was announced in July, the E.B.s have terminated some 200 employees connected to the child care center, over 100 VPs and some 200 other senior executives, many of them connected with the wholesale distribution channel which is being de-emphasized as Nike pushes to accelerate its DTC strategy, especially its on-line channel. It’s not clear how many total employees are being laid off outside of headquarters, but it’s likely that the downsizing of ... Log in to view full article.