Nike is laying off employees in its technology division, a company representative confirmed to Reuters on Monday.
The retailer will transition some of this work to third-party vendors, with changes first announced last week. The representative did not disclose the number of layoffs or the total workforce in the technology division.
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In March, Nike projected a larger than expected decline in fourth-quarter revenue, indicating a cautious approach as it seeks to regain consumer interest lost to trendier competitors.
Earlier this month, Nike CEO Elliott Hill implemented changes to the senior leadership team. Hill, who took over in October, is focused on revitalizing a company that has faced challenges in designing new and innovative footwear.
SOURCE: GBCGHANAONLINE
