Nike will reduce staff by 2% as part of the reorganization of the business

Moscow. June 15. INTERFAX.RU is an American manufacturer of sporting goods Nike Inc. announced plans to cut 2% of the company’s employees in the framework of measures aimed at the restructuring of the business. According to FactSet, state Nike has 70,7 thousand employees, we are talking about 1.4 thousand people.

According to CEO of Nike, Mark Parker, such a measure is needed to speed up the pace of development of new products by half and redirect the efforts on the development of its key markets.

Earlier it was reported that Nike will focus on 12 cities that will provide 80% of company revenue growth to 2020. Some of these cities include Los Angeles, new York, London, Paris, Barcelona, Milan, Berlin, Beijing, Shanghai, Tokyo, Seoul and Mexico city. Nike shares are getting cheaper by 2.1% during trading on Thursday, with the beginning of the year capitalization of the company increased by 4.7%, to $90.4 bln