The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Wearing Apparel 14.13 - Manufacture Of Other Outerwear
1,600 jobs Number of planned job losses
Announcement Date
16 February 2024
Employment effect (start)
16 February 2024
Foreseen end date
Description
Nike, an American athletic clothing multinational company, has announced that it will cut about 1,600 jobs worldwide.
The layoffs are a part of a cost-saving programme announced in February 2024. The programme intends to cut about 2 percent of the company’s global workforce and generate $2 billion in savings. The measure is to affect locations in Europe, the Middle East, Africa, and the United States.
So far, the cuts have been announced in the United States (750 job cuts) and at European hub in the Netherlands. For the Dutch location, no specific number of jobs to be cut is available as of now; the programme is being negotiated with employee representatives.
Nike employs approximately 80,000 people globally.
A previous global restructuring event of Nike has been recorded in the ERM events database Nike-2010-WO.
Eurofound (2024), Nike, Internal restructuring in World, factsheet number 201409, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201409.
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