Nike to lay off 740 employees at Oregon headquarters
) will lay off about 740 employees at its world headquarters in Oregon, a letter showed on Friday, as the top sportswear maker looks to rein in costs after warning of a revenue dip in the first half of fiscal 2025.
The company's shares were up marginally in after-hours trading. They have declined nearly 13% this year. Nike in March flagged its revenues in the first half of fiscal 2025 would shrink by a low-single-digit percentage as it looks to scale back on some franchises.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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