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.

- PA

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