Nike to cut 1,400 jobs and reduce trainer styles in restructuring

Nike to cut 1,400 jobs and reduce trainer styles in restructuring

Nike plans to cut 1,400 jobs and reduce the number of its trainer styles on offer by a quarter under restructuring plans.

The US sportswear giant wants to sell more shoes directly to customers online as part of the move.

The company announced several changes to its business structure, aimed at offering more products to customers at a quicker pace.

Nike, which is based in Beaverton, Oregon, said the jobs cuts represent about 2% of its 70,000 employees around the world.

It also said a main focus will be the 12 key cities in 10 countries which it expects to represent more than 80% of its projected growth through 2020.

Shares in Nike fell more than 2% to 53.35 dollars.

More in this Section

Dublin Airport preparing for busiest Christmas ever with 1.2 million passengers expectedDublin Airport preparing for busiest Christmas ever with 1.2 million passengers expected

Average price paid for motor insurance went up 62% in five year period Average price paid for motor insurance went up 62% in five year period

Thomas Cook collapse left €702m of holidays cancelledThomas Cook collapse left €702m of holidays cancelled

400 jobs to be created as Screwfix plans Irish expansion400 jobs to be created as Screwfix plans Irish expansion


Lifestyle

Breathing apps have soared in popularity – here’s how to give it a go without your phone. By Abi Jackson.3 breathing exercises to reduce stress, anxiety and a racing mind

We hear a lot about the geese, ducks and swans that arrive here from colder climes for the winter, but much less about smaller birds that come here to escape harsher conditions in northern Europe.Keep an eye out for redwings this winter

More From The Irish Examiner