Restructuring at Nike
Nike is to restructure its business in order to “further enhance its consumer focus and drive innovation more quickly to market”. However, the changes are likely to see the company’s almost 35,000-strong employee base reduced by approximately 4%.
Two years ago, the sportswear giant realigned the brand in order to organise its key sport categories more effectively. It claims the new changes are an extension of this strategy, which is designed to bring the company closer to consumers, reduce management layers and to increase speed-to-market globally.
Mark Parker, president and CEO, said: “In light of the current economic climate, it is more essential than ever to sharpen our focus on the consumer to maximise opportunities for product innovation and brand management in the marketplace. The decision to reduce our workforce is a difficult one, but it will put our business in the strongest position possible to continue to deliver long-term profitability and growth.”
