(Boursier.com) — Nike , the sports shoe giant, will reduce its workforce by around 2%, which represents more than 1,600 positions, in the face of weak demand. The workforce reductions would cost between $400 million and $450 million. The group had already announced in December a savings plan of $2 billion over three years, by reducing managerial layers and adjusting the offering of certain products. According to the Wall Street Journal, which initially reported the cuts, the workforce reductions would begin this Friday and a second phase would be finalized by the end of the quarter. The layoffs would not affect store employees or those in distribution centers or innovation teams.
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