NIKE WILL BE LAYING OFF APPROXIMATELY 740 EMPLOYEES AT ITS WORLD HEADQUARTERS IN OREGON, ACCORDING TO A LETTER RELEASED ON FRIDAY. 

THE TOP SPORTSWEAR MAKER AIMS TO CONTROL COSTS AFTER WARNING OF A REVENUE DECLINE IN THE FIRST HALF OF FISCAL 2025. 

IN DECEMBER, NIKE ANNOUNCED A $2 BILLION COST SAVINGS PLAN OVER THE NEXT THREE YEARS. IN FEBRUARY, THE COMPANY STATED IT WOULD CUT ABOUT 2% OF ITS TOTAL WORKFORCE, OR OVER 1,600 ROLES. 

Nike To Lay Off 740 Employees

Well, Nike, you will be laying off about 740 workers at its headquarters in Oregon. According to a letter released on Friday, the top sportswear maker aims to control costs after warning of a sales drop in the first half of fiscal 2025 in December, Nike announced a $2 billion cost savings plan over the next three years. And in February, the company stated that it would cut about 2% of its total workforce. That's about 1600 rules. Nike shares year to date down actually, as the broader stock market has moved higher, that stock is down a little more than 7%.