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NKE
CNBC
11 hrs

Nike to lay off about 1% of corporate staff in its latest effort to refocus the business

1. Nike plans another layoff under CEO Elliott Hill for realignment. 2. Cuts will impact less than 1% of corporate staff; EMEA and Converse unaffected. 3. The goal is to focus on sports and innovation over lifestyle products. 4. Sales declines are expected to moderate, indicating potential turnaround. 5. New team structures aim to enhance connection with athletes and consumers.

Layoff
-0.66%Current Return
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+0.14%S&P 500
$78.440108/28 12:45 PM EDTEvent Start
$77.9208/28 10:53 PM EDTLatest Updated
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FAQ

Why Bullish?

Layoffs might streamline operations and refocus on innovation, echoing past examples like restructuring under Phil Knight.

How important is it?

The proposed layoffs and realignment directly relate to profitability and growth potential for NKE.

Why Short Term?

Realignment actions and intended sales improvements could impact immediate stock performance.

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