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Nike to cut 1400 jobs

Nike plans to focus on the hottest-selling sneakers, slash the number of styles it offers and sell more shoes directly to customers online as part of a restructuring in which it also will cut about 1,400 jobs. Sales of running performance sneakers were flat and sales of basketball performance sneakers dropped last year.

Customers will barely notice the decrease in styles given the breadth of options Nike offers.

Nike is based in the United States. The layoffs represent about two per cent of its 70,000 employees around the world. It is believed the jobs cuts are aimed at eliminating redundant back-office positions as a result of a consolidation of reporting segments.

Nike, known for its swoosh logo, will also make its sneaker-selling apps available in more countries at a time when online sales mean many big retailers and department stores are closing stores.

The brand is getting even more aggressive in the digital marketplace. A main focus will be the 12 key cities in ten countries that it expects to represent more than 80 per cent of its projected growth through 2020. Those cities are New York, Los Angeles, London, Paris, Milan, Mexico City, Tokyo, Seoul, Shanghai and Beijing.

 
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