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On July 22, Nike said it would take a charge in the range of $200 million and $250 million to cover a “net loss of jobs across the company” as it shifts resources to accelerate digital growth and simplify its organizational structure.
Nike leaps 12% after crushing earnings expectations and accelerating online-sales shift
Nike as a company is doing fine, that's why its stock price is healthy. But it's refocusing on more profitable business areas.
I'm wondering where the people losing their jobs are at the company; I don't assume they are doing poorly. I assume your link is more accurate than the OP's, because my entire curiosity was wondering how 700 people from corporate could be let go because they're going online. Even if so that'd mean the stores these people were involved in managing that are being replaced would be going away as well. That's not headquarters.
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[–] Jaryx 0 points 3 points 3 points (+3|-0) ago (edited ago)
What does this mean?:
You imply it's retail stores shifting to online stores, but that says headquarters.
[–] lanre 0 points 2 points 2 points (+2|-0) ago (edited ago)
https://sgbonline.com/report-nike-undergoes-second-round-of-layoffs/
On July 22, Nike said it would take a charge in the range of $200 million and $250 million to cover a “net loss of jobs across the company” as it shifts resources to accelerate digital growth and simplify its organizational structure.
Nike leaps 12% after crushing earnings expectations and accelerating online-sales shift
Nike as a company is doing fine, that's why its stock price is healthy. But it's refocusing on more profitable business areas.
[–] Jaryx ago
I'm wondering where the people losing their jobs are at the company; I don't assume they are doing poorly. I assume your link is more accurate than the OP's, because my entire curiosity was wondering how 700 people from corporate could be let go because they're going online. Even if so that'd mean the stores these people were involved in managing that are being replaced would be going away as well. That's not headquarters.