Nike to Lay Off 1,600 Employees After 'Woke' Drama

By Daniel Walker | March 19, 2024

Announced layoffs

Nike announced plans to lay off around 1,600 employees, or about 2% of its global workforce, as part of a $2 billion cost-cutting strategy.

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via WFAA

The impact of the announced layoffs on the company’s global operations, including its presence in regions such as Mexico, underscores the broader implications of the business’s strategic adjustments on a global scale.

CEO John Donahoe

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via CBS

CEO John Donahoe said performance has not been the best and took responsibility. The decision to downsize its workforce comes in the wake of declining demand for its products, driven by economic factors such as higher rental costs and interest rates, prompting consumers to curtail spending on high-end goods.