Nike to slash 1,750 jobs

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.