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Nike will slash 1,400 jobs amid broad restructuring

June 15, 2017View for printing

Nike said Thursday morning it will cut its global workforce by 2 percent in a broad restructuring, responding to competitive pressure from Adidas and Under Armor.

"The future of sport will be decided by the company that obsesses the needs of the evolving consumer," chief executive Mark Parker said in a written statement.

Nike had 70,000 employees at the end of last year, so Thursday's cuts work out to about 1,400 jobs altogether. The company had 10,000 or more working at its headquarters near Beaverton, so Oregon could lose roughly 200 jobs in the restructuring.

By Mike Rogoway The Oregonian/OregonLive

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