- Reuters
UPDATE 2-Converse to cut jobs as part of Nike's cost-savings plan
Footwear brand Converse will cut jobs as part of parent company Nike's on-going $2 billion cost savings plan, a source familiar with the matter said on Tuesday. Nike had laid out a costs saving plan in December that would stretch over the next three years and also include tightening the supply of some products and reducing management layers. The cost-saving plan has prompted a slew of job cuts over the past few months at the world's largest sportswear maker.
- Reuters
Converse to cut jobs as part of Nike's cost-savings plan
Nike had laid out a costs saving plan in December that would stretch over the next three years and also include tightening the supply of some products and reducing management layers. The footwear giant has been hit by cautious consumer spending and a pressured wholesale business over the past few quarters, forcing it to trim supplies of classic shoes such as its Air Force 1 and Pegasus. The cost-saving plan has prompted a slew of job cuts over the past few months at the world's largest sportswear maker.
- Zacks
Nike (NKE) Ascends While Market Falls: Some Facts to Note
In the latest trading session, Nike (NKE) closed at $92.72, marking a +1.96% move from the previous day.
