I bought a pair of Asics yesterday. Sorry kids.
BNO News is reporting that “up to 1400 people (4%) of it’s workforce may be fired as a result of restructuring and cost reductions to enhance customer focus.”
Marketwatch.com reports that “the exact number and the timing of the lay offs will not be determined until Nike completes a review of its organization which is expected to be completed by the end of the fiscal year. The realignment is aimed at improving efficiency throughout the company in response to current economic conditions.”
Reuters quotes:
“In light of the current economic climate, it is more essential than ever to sharpen our focus on the consumer to maximize opportunities for product innovation and brand management in the marketplace,” Nike President and Chief Executive Mark Parker said in a statement. (Reporting by Aarthi Sivaraman)
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