Nike Plans to Cut $2 Billion in Costs; Layoffs Imminent as Strategy Pivot Continues
Retail TouchPoints
JANUARY 2, 2024
Nike has laid out a plan to cut up to $2 billion in costs over the next three years in a bid to “accelerate future growth while building a faster, more efficient” organization, executives shared during the company’s fiscal 2024 Q2 earnings call. However, currency-neutral wholesale revenues were down 3% to $7.1
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