With major layoffs happening in every industry, Nike appears to be no exception. Nike's CEO, John Donahoe, sent out an email last Thursday stating that Nike plans on eliminating about 2% of its workforce, equating to roughly 1,500 jobs. The layoffs have begun already and will likely continue throughout the end of the next quarter, May 31st.
With a whopping 83,700 employees reported as of May 31st, 2023, this upcoming layoff is expected to impact mainly Nike's headquarters in Beaverton, where roughly 11,400 are employed. In the email, we can Donahoe's concern about the situation:
"This is a painful reality and not one that I take lightly... We are not currently performing at our best, and I ultimately hold myself and my leadership team accountable,” said Donahoe.
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Cover image via Reuters