Global sportswear giant Nike has announced substantial job cuts as part of an ambitious reorganization plan aimed at saving approximately $2.5 billion by fiscal year 2031. The announcement, reported by CEO Elliott Hill in an internal communication to staff, comes as the company seeks to "modernize its global supply chain" and reduce "management layers" to focus on more autonomous local teams, according to Nieuwsblad.be. The plan, dubbed "Pace," involves a major restructuring that will affect an undetermined number of employees worldwide. Precise details regarding the number of jobs affected and the regions concerned are to be communicated later, with Elliott Hill calling circulating figures "speculation" at this stage.
Western sources (Popular/Generalist, Neutral/News Agency) both confirm Nike's announcement of massive job cuts as part of a $2.5 billion cost-saving plan. The popular source is more explicit about the reorganization context and financial objectives, while the news agency provides a more concise confirmation. There is no significant divergence,...
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