Sportswear maker Nike Inc will be reducing nearly 1,750 jobs, representing nearly five per cent of its global workforce, as part of its restructuring efforts. The American company has a total employee strength of about 35,000 and five per cent cut would come to 1,750 jobs. A major chunk of the job cuts are expected over the next several weeks.
Nike has a significant presence in India and was also a sponsor for the Indian cricket team. The company said it started a review of its worldwide workforce in February mainly to create a stronger organisational structure, among others.
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