Nike: to cut 2 percent of workforce.
(CercleFinance.com) - Nike said on Thursday it wanted to reduce its workforce by 2 per cent in a leadership and organisational move that is intended to streamline and speed up strategic execution.
The sports apparel maker plans to adopt a simplified geography structure, changing from six to four regions comprising North America; Europe, Middle East and Africa (EMEA); Greater China; and Asia Pacific and Latin America (APLA).
As such, financial results will be reported based on these four operating segments beginning in fiscal year 2018.
The initiative, named "New Consumer Direct Offense", is also supposed to drive growth by accelerating innovation and product creation, and moving closer to the consumer through "key cities".
These 12 key cities located in 10 countries (New York, London, Shanghai, Beijing, Los Angeles, Tokyo, Paris, Berlin, Mexico City, Barcelona, Seoul, and Milan) are expected to represent over 80 per cent of Nike's projected growth through 2020.
As of end of 2016, Nike had over 70,000 employees worldwide.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The sports apparel maker plans to adopt a simplified geography structure, changing from six to four regions comprising North America; Europe, Middle East and Africa (EMEA); Greater China; and Asia Pacific and Latin America (APLA).
As such, financial results will be reported based on these four operating segments beginning in fiscal year 2018.
The initiative, named "New Consumer Direct Offense", is also supposed to drive growth by accelerating innovation and product creation, and moving closer to the consumer through "key cities".
These 12 key cities located in 10 countries (New York, London, Shanghai, Beijing, Los Angeles, Tokyo, Paris, Berlin, Mexico City, Barcelona, Seoul, and Milan) are expected to represent over 80 per cent of Nike's projected growth through 2020.
As of end of 2016, Nike had over 70,000 employees worldwide.
Copyright (c) 2017 CercleFinance.com. All rights reserved.