Nike Layoffs: Sportswear Company Lays Off Its Employees From European Headquarters in Netherlands
Nike has laid off its employees at its European headquarters in the Netherlands, as part of a cost-cutting plan and to improve operational efficiency. Check for further details here.
New Delhi, June 5: Nike, the world's largest sportswear company, has initiated layoffs at its European headquarters in the Netherlands. Nike Inc. has laid off its employees in its European headquarters. The Nike layoffs is expected to be a part of a broader cost-cutting plan aimed at improving the company's performance. Nike layoffs have been occurring and now the impact is being felt in Europe. The decision to reduce the workforce is anticipated to streamline operations and focus on key business areas by the company.
As per a report of CNBC TV18, Nike layoffs have reached its European headquarters in the Netherlands. As part of a multiyear cost-cutting plan, Nike Inc. has implemented layoffs at its European headquarters, a move that might intended to simplify operations for the sportswear company. Microsoft Layoffs: Tech Giant To Lay Off Hundreds of Employees at Azure Cloud Unit; Check Details.
It is anticipated that this strategy might be intended to make Nike more flexible and responsive to changing consumer demands. There are over 2,000 employees at the company's European headquarters in Hilversum. It is unclear how many employees were laid off from the company's European headquarters.
Nike's recent cost-cutting measures have led to significant job cuts at Converse, affecting over 700 employees at its Oregon headquarters. The company's USD 2 billion cost-cutting plan involves reducing its workforce by 2 per cent. The layoffs at the Oregon headquarters have occurred in two rounds and are expected to conclude by the end of the fiscal year. Google Layoffs: Tech Giant Lays Off Around 100 Employees Across Its Cloud Unit; Check Details.
In an internal memo, Chief Executive Officer John Donahoe informed employees that the planned job cuts in Europe, Africa and the Middle East would take place on different timelines compared to those in North America. The job cuts in North America took place in two phases, starting in February, but layoffs in Europe have not taken place until recently due to differences in local labour laws.
(The above story first appeared on LatestLY on Jun 05, 2024 08:48 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).