Nike Planning 2 Rounds Of Staff Layoffs
Nike Planning 2 Rounds Of Staff Layoffs

According to Business Insider, Nike is planning two rounds of staff layoffs, that will take place in July and the fall.

According to Complex, a company-wide email was sent to Nike workers from CEO John Donahoe.

As a result of COVID lockdown closures, the sportswear giant had a net loss of $790 million dollars in Q4.

Donahoe says the layoffs are an effort to restructure the "overburdened matrix" of the company.