X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PORTLAND, OR- Nike Inc. said Thursday that it will cut about 1,750 jobs worldwide, which equally approximately 5% of its global workforce. Approximately 500 (28%) of the job losses will occur at its expansive corporate headquarters in nearby Beaverton, OR.

The shoe and apparel company previously announced that it would be trimming its headcount as part of an initiative to align costs with reduced revenues. More recently, it said the cuts would be made in part by reducing the number of management layers.

In addition to its nameplate brand, the company owns Converse, Cole Haan and Umbro. Shares of Nike common stock closed the trading day at $50.95, up $1.43.

The Nike world campus is a 176-acre, 17-building campus catering to 6,000 employees engaged in management, research, design, development, marketing, finance, and other administrative functions from nearly all of company divisions. It has a smaller but similar campus in Hilversum, The Netherlands, that serves as its headquarters for Europe, Middle East and Africa.

Elsewhere in Beaverton, it manufactures its “air-sole” cushioning materials and components in owned facilities, and in nearby Hillsboro it leases a large distrbution facility. The company also has two larger distribution facilties in Memphis, TN, one of which it leases, and another in Greenland, NH, that it owns. Internationally, it has significant owned distrbution centers in Tomisatomachi, Japan, and in Laakdal, Belgium.

The company also lease six production offices outside the US, 100 sales offices and showrooms worldwide, and approximately 70 administrative offices worldwide. On the retail side, worldwide it leases approximately 556 stores, consisting primarily of factory outlet stores.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.