World Economy

Nike Cutting 1,400 Jobs

Nike Cutting 1,400 JobsNike Cutting 1,400 Jobs

Sports apparel and footwear giant Nike will cut about 1,400 jobs, part of a plan to expand direct selling to consumers as e-commerce roils the retail sector, the company announced Thursday, AFP reported. Nike said it would cut about 2% of its global workforce as it implements the “Consumer Direct Offense,” a reorganization initiative that targets customers in 12 key cities. “Nike is moving closer to the consumer—creating a local business, on a global scale.” The focus cities—New York, London, Shanghai, Beijing, Los Angeles, Tokyo, Paris, Berlin, Mexico City, Barcelona, Seoul and Milan—are expected to account for more than 80% of the Nike’s growth through 2020.


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