What's Going On With Nike Stock Tuesday? - Nike (NYSE:NKE)

Nike Inc. (NYSE:NKE) stock fell on Tuesday morning following reports that the athletic footwear giant plans to eliminate 775 positions at U.S. distribution facilities as part of its ongoing automation initiative.The layoffs, announced by Nike, come on top of the 1,000 corporate job cuts disclosed last summer, according to a CNBC report on Monday. The majority of the affected positions are at distribution center locations in Tennessee and Mississippi, where Nike operates major warehouses. The decision reflec ...