Nike planning 740 redundancies at Oregon HQ

SALEM, Oregon: As part of its efforts to cut costs after warning of a decline in revenue in the first half of the 2025 fiscal year, a letter on April 19 showed that top sportswear maker Nike will make some 740 employees at its Oregon headquarters redundant.

In a legally mandated notice to state authorities, Michele Adams, Nike’s vice president for people solutions, said, "The ‘second phase of impacts’ would begin by June 28 at its headquarters."

In December, Nike announced a cost savings plan worth US$2 billion over the next three years.

In February, it said it would cut more than 1,600 roles or some two percent of its workforce. As of May 31, 2023, the company had around 83,700 employees.

To cut costs amid uncertain demand, several U.S. and Canadian companies in the U.S. and Canada have announced new rounds of redundancies in addition to layoffs made in 2023.

In March, Nike warned that its revenues in the first half of the 2025 fiscal year would decrease by a low-single-digit percentage.