PORTLAND, Ore. (AP) — Nike has filed documents with the state of Oregon that show its recently announced layoffs will eliminate at least 500 jobs at the company’s world headquarters near Beaverton.
The company announced the downsizing July 22 after disclosing a rare money-losing quarter in June, The Oregonian/OregonLive reported.
But it has not yet divulged the actual number of job cuts. The number of layoffs worldwide will be higher than the 500 in Oregon losing their jobs. Last week, Nike said the cuts will result in termination costs of $200 million to $250 million.
John Donahoe, Nike’s new CEO and president, has enacted a plan to simplify Nike’s complex corporate organizational chart. Multiple product category teams responsible for specific products for specific sports and consumers will be cut to just three — men, women and kids.
Like many other corporations, Nike has suffered during the coronavirus pandemic. Total revenue was down 38% to $6.31 billion from $10.18 billion a year ago.
In its notice to the state, Nike said the cuts will include some members of its corporate leadership teams and their executive assistants. The company added that 192 of the laid off employees will come from one of three Nike childcare centers.
The layoffs will start around Oct. 1.