Nike cutting 1,600 jobs to cut costs: report

Nike is laying off 2% of its corporate workforce as it contends with weaker consumer spending.  Starting Friday, more than 1,600 positions will be cut as the company increases its investment in high priority areas such as running, women's clothing and its Jordan brand, CEO John Donahoe told employees, according to a memo seen by The Wall Street Journal. A second phase of the cuts will be completed by the end of the quarter. Employees in stores, distribution centers or on the innovation team aren't expected ...