Nike Announces Job Cuts Affecting Less Than 1%

Nike is cutting less than 1% of corporate staff as part of a restructuring to spark a turnaround. With 77,800 global employees, numbers by office remain undisclosed. CEO Elliott Hill has overhauled leadership, reset priorities, and restructured divisions. Shares rose 0.5%, though trailing the S&P 500’s gains. Staff were told to work remotely next week.