News > Nike layoffs: 40% senior positions affected in the recent job cuts

Nike layoffs: 40% senior positions affected in the recent job cuts

According to Nike's latest corporate responsibility report for the fiscal year 2023, the company employed 423 individuals in vice president or higher positions. On Monday, its shares fell by $2.38 to $73.05, nearing a 52-week low of $73. Nike's recent projections have added to its challenges. The company anticipates a decline in sales for the upcoming year, leading to a loss of more than $28 billion in shareholder value just ten days ago.