Wow, it amazes me that even one of the strongest companies aren’t even recession proof.Though it doesn’t seem like there will be a price cut for Nikes
Tuesday the business announced they were to layoff 3.5-4% of its US work force.Citing 250 jobs in the Beaverton headquarters and 200 in other parts of the country would be the site of the cuts. Once third quarter earnings are reported the brand expects more cuts as they assume they will fall under Wall Streets expectations.
Shoe and apparel company Nike Inc. said Tuesday that it may cut up to 1,400 jobs as part of a restructuring. The company said it is realigning its business and as part of that, could cut up to 4 percent of its work force. Nike employs nearly 35,000 people worldwide.
full article here.
-The Homeboy Andres