Nike Announces Global Workforce Reduction

Nike announced on Thursday that approximately 1,400 employees from its global operations team will be laid off. According to BlockBeats, this decision was reported by Fox News on April 24. In a memo to employees, Chief Operating Officer Venkatesh Alagirisamy stated that the layoffs will primarily affect the company's technology department across North America, Asia, and Europe, representing less than 2% of Nike's total global workforce. Alagirisamy noted, "This is not a new direction but the next phase of ongoing work." The announcement comes as Nike restructures its business through a series of layoffs.