Nike to lay off more than 1,600 employees to cut costs: report

Nike Inc. is reportedly looking to cut more than 1,600 jobs, as part of its plan to cut costs so it can create capacity to boost profitability and innovation.The jobs cuts won’t affect employees in stores, distribution centers or those involved in innovation, The Wall Street Journal reported late Thursday, after reviewing an employee memo.The report comes two months after the athletic shoe, apparel and accessories giant NKE, -0.26% said in its second-quarter earnings call that it was targeting $2 billion in ...