Report: Nike Layoffs Hit Senior Staff
The Eager Beavertons’ restructuring announced in July has now moved upstairs to include more senior S-band employees, according to a report in the Oregonian. Nike laid off about 100 VP level staff over the summer, and the latest round hit a large number of directors who were responsible for the wholesale business, Susquehanna Financial Group analyst Sam Poser said. The E.B.s have repeatedly emphasized their goal of creating a nimbler, flatter organization, and budgeted $200 to $250 million this fiscal year for severance and other employee termination costs.
Nike reiterated its plan to mercilessly trim “undifferentiated wholesale” on its FQ1 conference ... Log in to view full article.