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00:02Nike said Thursday it will cut about 1,400 roles across global operations with most reductions
00:09in its technology department as part of its win-now turnaround strategy, according to CNBC.
00:16COO Venkatesh Aligarissimi said the changes aim to reshape the technology team,
00:22modernize air manufacturing, move some converse footwear operations,
00:25and integrate materials supply chain work into footwear and apparel teams.
00:30The layoffs affect North America, Asia, and Europe and represent less than 2% of global headcount.
00:37Notifications begin Thursday.
00:38The cuts follow 775 job reductions in January tied to automation and earlier corporate layoffs last summer.
00:45Nike warned last month that sales will continue to decline this year,
00:49led by an expected 20% drop in China this quarter.
00:52For all things money, visit Benzinga.com.
00:55The update from interest in China.
00:55The operation of an oven toward aْicular bzw.
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