{"id":2227151,"date":"2024-04-22T12:55:02","date_gmt":"2024-04-22T16:55:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nike-cuts-740-workers-from-oregon-headquarters\/"},"modified":"2024-04-22T12:57:17","modified_gmt":"2024-04-22T16:57:17","slug":"nike-cuts-740-workers-from-oregon-headquarters","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nike-cuts-740-workers-from-oregon-headquarters\/","title":{"rendered":"Nike lays off 740 employees at Oregon HQ"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnike-cuts-740-workers-from-oregon-headquarters%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2227151&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The content includes a \u200chidden\u200b section\u2062 that can \u200cbe expanded by clicking the &#8220;Read more&#8230;&#8221;\u200d button.\u2063 It appears to be related to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rnc-announces-the-8-candidates-to-participate-in-first-debate-in-milwaukee\/\" title=\"RNC reveals 8 candidates for Milwaukee debate.\">business \u2064news<\/a>, possibly \u2062from the Washington Examiner website. The article may provide insights \u2063into \u2064various business-related\u200b topics. The content contains a hidden section that can be revealed\u2063 by clicking the \u200d&#8221;Read more&#8230;&#8221; button. It seems to be focused on business news, potentially sourced from the Washington Examiner website, offering \u2062insights into a range of business-related subjects.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_78\">\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/business\" target=\"_blank\" rel=\"noopener\" title>Nike<\/a> is set to lay off at least 740 <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/workers\" target=\"_blank\" rel=\"noopener\" title>employees<\/a> from its <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/oregon\" target=\"_blank\" rel=\"noopener\" title>Oregon<\/a> headquarters as the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/sports\" target=\"_blank\" rel=\"noopener\" title>sportswear<\/a> giant prepares for an anticipated revenue drop in the first half of fiscal 2025.<\/p>\n<p>Layoffs deemed the \u201csecond phase of impacts\u201d in a Friday letter would start in late June, <a href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/nike-lay-off-740-employees-oregon-headquarters-2024-04-19\/\" target=\"_blank\" rel=\"noopener\" title>according<\/a> to a report citing a legally mandated notice from Nike Vice President Michele Adams.<\/p>\n<p>Although Nike shares have seen a slight uptick in after-hours trading, total shares have fallen roughly 13% this year, according to the report.<\/p>\n<p>To face the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tech-stocks-suffer-worst-weekly-losing-streak-since-dot-com-bust\/\" title=\"Tech Stocks Suffer Worst Weekly Losing Streak Since Dot-Com Bust\">expected revenue drop<\/a>, Nike announced a roughly $2 billion cost savings plan in December that will be implemented over the next three years. It includes the removal of 1,600 of its 83,700 workers.<\/p>\n<p>The announcement that the 740 employees will be terminated arrives around the same time Nike appears to have lined up a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/publisher-to-pay-cuomo-5-million-for-covid-book-flop\/\" title=\"Publisher to Pay Cuomo  Million for COVID Book Flop\">multimillion-dollar deal<\/a> with women\u2019s basketball star Caitlin Clark, <a href=\"https:\/\/www.foxbusiness.com\/sports\/nike-sign-caitlin-clark-deal-hotly-contested-sweepstakes-comes-end-report\" target=\"_blank\" rel=\"noopener\" title>according<\/a> to a report.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><strong>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/strong><\/a><\/p>\n<p>Clark is expected to ink a reported eight-year deal with Nike, which is worth upward of $28 million.<\/p>\n<p>The offer from Nike includes a purported $3.5 million annual salary and a signature shoe, the report noted.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nike to cut 740 jobs at Oregon HQ anticipating revenue decline. Layoffs, termed as the &#8220;second phase of impacts,&#8221; are scheduled to commence in late June as per a legally mandated report, aligning with preparations for expected revenue decrease in fiscal 2025&#8217;s first half<\/p>\n","protected":false},"author":2644,"featured_media":2227152,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP24029701128568-1024x747.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2227151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP24029701128568-1024x747.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2227151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2644"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2227151"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2227151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2227152"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2227151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2227151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2227151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}