Nike Layoffs Impact Secret Sneaker Archive Department As Part Of $2B Cost-Cutting Plan
Portfolio Pulse from Benzinga Newsdesk
Nike is implementing layoffs in its Secret Sneaker Archive department as part of a $2 billion cost-cutting plan.
May 30, 2024 | 2:33 pm
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Nike is laying off employees in its Secret Sneaker Archive department as part of a $2 billion cost-cutting initiative. This move is likely aimed at improving profitability and operational efficiency.
The layoffs and cost-cutting measures are likely to be viewed positively by investors as they indicate Nike's efforts to improve profitability and streamline operations. This could lead to a short-term increase in stock price.
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