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Nike Announces Likely Job Cuts, $790 Million Loss (UPDATE)



Nike Announces Likely Job Cuts, $790 Million Loss (UPDATE)

Nike CEO John Donahoe announced in a company-wide email on Thursday that the brand will soon be “forced to make some difficult choices” that will “likely result in a net reduction of jobs.”

The email, viewed by Complex, comes after Nike posted a net loss of $790 million in its latest quarterly earnings report on the same day. The company attributed the loss in part to the strain COVID-19 placed on its business globally.

Through his message about the pending layoffs at Nike, Donahoe ensured that the reductions in staff would “not be done for cost reasons.” The CEO also said they were not a response to the coronavirus pandemic… READ MORE @Complex

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