Nike to Cut 740 Jobs at Oregon Headquarters by June 28

The layoffs are part of a broader strategy to reduce costs by $2 billion over three years amid declining revenues.

Nike announced a workforce reduction of 740 employees at its Beaverton, Oregon headquarters, effective by June 28, 2024.
The job cuts are in response to projected revenue declines in the first half of fiscal 2025.
This reduction is the second phase of a larger plan to cut approximately 2% of its global workforce, totaling over 1,600 jobs.
Nike's stock has suffered, showing a significant decline over the past year.
The company is also finalizing a major endorsement deal with WNBA top draft pick Caitlin Clark.