The third-quarter earnings reported by Nike Thursday afternoon were mixed -- a drop in revenue but dramatic increases in digital sales -- as the retailer struggled with challenges from the pandemic. But bad news seemingly was about to follow when just a few hours later it was reported that the company also made a round of layoffs. The layoffs were not mentioned in the company's earnings release, but its hometown newspaper, The Oregonian, and the paper's website Oregon Live reported about five hours after the financial announcements that Nike instituted an "unspecified number of recent layoffs" in an effort to build a "flatter, nimbler company." FOX Business reached out to Nike for comment regarding the reported layoffs but is still awaiting a response. These latest cutbacks were in addition to moves the company announced last year to shave 700 employees off its payroll.
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The Layoff List was created in 2019 and is free for the community. Tips reported are left anonymous unless they explicitly ask to be included as a source. We verify a majority of tips and include independent sources, but for tips that we are unable to verify we separately categorize them as unverified reports to avoid misrepresentations.