Nike is still the King of the hill, but the brand feels they can perform even more efficiently by doing some corporate restructuring. For that reason, Nike recently announced that they expect to cut 2 percent of their employees.

According to FactSet, Nike currently employs 70,700 employees. This new corporate structure the brand plans on taking is called the “Customer Direct Offense”. They  will focus on 12 cities across 10 countries, including New York London, Tokyo and Barcelona, which is expected to represent 80 percent of the company’s growth through 2020.

In addition, Nike will report based on four operating segments — North America; Europe, Mideast and Africa; Greater China; and Asia-Pacific and Latin America, with each region having a vice president to lead it.

Sometime less is more, right? For that reason, Nike will also be cutting 25 percent of its styles, and is cutting product creation cycles in half. Michael Spillane has been named to a new role, president of categories and products, to lead this new accelerated process.

The company is also increasing its direct-to-consumer efforts through a new Nike Direct organization led by Heidi O’Neill, president of the group, and Adam Sussman, chief digital officer.

Nike shares are down 2.6 percent in Thursday trading and up 4.7 percent for the year so far. The S&P 500 index is up 8.3 percent for 2017 to date.

The post Nike Set To Layoff 1,500 Global Employees And Cut 25% Of Its Style appeared first on KicksOnFire.com.

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Nike is still the King of the hill, but the brand feels they can perform even more efficiently by doing some corporate restructuring. For that reason, Nike recently announced that they expect to cut 2 percent of their employees.

According to FactSet, Nike currently employs 70,700 employees. This new corporate structure the brand plans on taking is called the “Customer Direct Offense”. They  will focus on 12 cities across 10 countries, including New York London, Tokyo and Barcelona, which is expected to represent 80 percent of the company’s growth through 2020.

In addition, Nike will report based on four operating segments — North America; Europe, Mideast and Africa; Greater China; and Asia-Pacific and Latin America, with each region having a vice president to lead it.

Sometime less is more, right? For that reason, Nike will also be cutting 25 percent of its styles, and is cutting product creation cycles in half. Michael Spillane has been named to a new role, president of categories and products, to lead this new accelerated process.

The company is also increasing its direct-to-consumer efforts through a new Nike Direct organization led by Heidi O’Neill, president of the group, and Adam Sussman, chief digital officer.

Nike shares are down 2.6 percent in Thursday trading and up 4.7 percent for the year so far. The S&P 500 index is up 8.3 percent for 2017 to date.

The post Nike Set To Layoff 1,500 Global Employees And Cut 25% Of Its Style appeared first on KicksOnFire.com.

Comments are closed.