Nike, Inc. has issued a press release upon completion of its workforce review. As previously stated, Nike, Inc. began a global workforce review in February regarding the company's objectives to enhance its consumer focus, speed decision making and create a stronger organizational structure for the future.

Following its review, Nike, Inc. reported it will reduce its overall global workforce of nearly 35,000 by approximately 5%, which would translate to roughly 1,750 employees. 

“Our new structure sharpens our consumer focus globally to drive continued growth while positioning Nike, Inc. competitively in today’s marketplace,” said Mark Parker, President and CEO, NIKE, Inc. “We remain a growth company and we know these changes have created a stronger organization that will enable us to invest in our most significant opportunities. However, the decision to reduce our workforce has been a difficult and challenging one as it affects our colleagues, teammates and friends.”

Nike, Inc. noted in the release that departing employees will receive a “robust and enhanced” severance to help support their transition from the company. Over the next several weeks, the company expects to complete the majority of employee transitions.