Apr. 23 at 9:14 PM
$NKE Nike cuts 1,400 jobs in new round of layoffs, CNBC reports
Nike announced a new round of layoffs of 1,400 roles across the company, mostly concentrated in its technology department, Laya Neelakandan of CNBC reports, citing note from COO Venkatesh Alagirisamy. Nike said the layoffs were part of its "Win Now" turnaround strategy aiming to reshape its technology team, modernize its air manufacturing, move some of its Converse Footwear operations and integrate its materials supply chain work into its footwear and apparel supply chain teams, according to CNBC.