Nike plans to eliminate 740 jobs at Beaverton, Oregon headquarters by June, part of a $2B cost-savings plan over 3 years.

Sportswear giant Nike plans to eliminate 740 jobs at its Beaverton, Oregon headquarters by late June, as part of a cost-cutting measure. This move follows a revenue warning for the first half of fiscal 2025 and is the second phase of layoffs. The layoffs will affect positions at Nike's world headquarters, and the company aims to reduce its workforce by 2% as part of a $2 billion cost-savings plan over the next three years.