A new wave of unexpected layoffs now hits Oregon as a giant business announces its second phase of job cuts in the state.
The second phase of layoffs is hitting Nike’s corporate headquarters in Oregon effective June 28, according to a Worker Adjustment and Retraining Notification filing on Friday.
The layoffs are part of the 2% workforce reduction Nike announced back in February, which is taking place across two phases, the company confirmed via email.
After the layoffs in June, about 740 employees total will have lost their jobs at Nike’s Oregon headquarters over the two phases, per the filing.
Nike said job titles and the number of employees in each category would be provided at a later date, once the company has determined them.
Bumping rights are not available for the impacted employees, reports Fashion Dive.
“Nike’s always at our best when we’re on the offense. The actions that we’re taking put us in the position to right-size our organization to get after our biggest growth opportunities as interest in sport, health and wellness have never been stronger,” Nike said in a statement, echoing the statement provided to sister publication Retail Dive when layoffs were first announced.
“While these changes will impact approximately 2% of our total workforce, we are grateful for the contributions made by all Nike teammates.”
The layoffs are tied to a cost-savings plan Nike unveiled in December, which is aimed at generating up to $2 billion in cumulative savings over three years.
Based on the company’s last annual report, the layoffs to 2% of its total workforce will impact more than 1,600 people.
Savings from the plan are set to be reinvested in driving growth, innovation and profitability.
The layoffs come as Nike is looking to tweak its strategy following challenges created by its DTC focus. CEO John Donahoe in March said Nike is “not performing at our potential” and vowed to make “important adjustments” to its DTC strategy.
CFO Matt Friend added at the time that the brand had started streamlining support and operating functions, as well as cutting back on management layers. Instead, Nike is investing in areas like design, product creation and merchandising.
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Also Read: A Massive Grocery Brand Now Files For Chapter 11
Other Economy News Today
A grocery chain with 900 outlets now makes an unexpected closure in Illinois, leaving customers mourning its loss.
A Save-A-Lot store in Rockford, Illinois, will be closing its doors for good on May 20.
Customers were informed of the sudden news by a sign on the door telling them to go to another branch for their goods.
However, locals are concerned as a store that opened in February 2015 propped up the neighborhood following the loss of a Schnucks store.
The Save-A-Lot location not only provided jobs but also a budget store.
Following the closure, shoppers are going to be left with fewer options with one resident saying, “We have no choices.”
“This is going to be a hard hit for the people in this neighborhood…this community…and this side of town…we have nothing,” one shopper told WREX.
“I’m not happy because they are a less expensive store, you get more for your money.”
“Schnucks is on the higher end, and Aldi is higher than they used to be.”
The shopper noted that options in the area are limited with the nearest grocery stores being Aldi which is around two miles away, and Schnucks, two and a half miles away.
“We have no choices, we have dollar stores – they have competitive prices, but they don’t carry a lot of stuff you can’t feed a family on that, you need stores like this.”
“I feel like we’re a dry county when it comes to groceries and it’s really hard,” another shopper added.
“I’m kind of heartbroken about it. It’s a shame it’s going to hurt a lot of people.”
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Also Read: A Massive Grocery Chain With 400 Stores Is Now Closing
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