Nike to cut 5% of global jobs

Published: 21 May, 2009

Nike Inc, the world's largest maker of athletic shoes and apparel, will slash 5% of its 35,000 global workforce, or 1,750 jobs, in the largest headcount reduction in the company's history.

The overhaul is to boost competitiveness and reduce costs for the company which has the famous ‘swoosh' logo and will include about 500 positions at Nike's Beaverton, Oregon, headquarters, the company said on May 14.

Nike said it employs about 6,800 workers at its headquarters. The sports brand first said in February that a review of its sprawling worldwide operations would likely result in a 4% staff reduction, or about 1,400 jobs.