Nike to cut 1,400 jobs in reorganisation

New York: Sports apparel and footwear giant Nike will cut about 1,400 jobs, part of a plan to expand direct selling to consumers as e-commerce roils the retail sector, the company announced on Thursday. Nike said it would cut about two per cent of its global workforce as it implements the “Consumer Direct offense,” a reorganisation initiative that targets customers in 12 key cities.
“In the new alignment, the company will drive growth by deeply serving consumers in 12 key cities,” the company said in a news release. “Nike is moving closer to the consumer — creating a local business, on a global scale.”
The focus cities — New York, London, Shanghai, Beijing, Los Angeles, Tokyo, Paris, Berlin, Mexico City, Barcelona, Seoul and Milan — are expected to account for more than 80 per cent of the Nike’s growth through 2020. — AFP