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Nike slashes 1,750 jobs worldwide
San Francisco, May 15: World's largest athletic shoe and apparel maker Nike Inc announced its decision to cut about 5 pc of its global work force. This will affect about 1,750 employees of its 35,000-strong workforce. This is the largest layoff in the company's history.
Nike
said
on
Thursday,
May
14
that
decision
was
taken
to
boost
competitiveness
and
reduce
costs.
About
500
positions
will
be
removed
from
Nike's
headquarters
at
Beaverton,
Oregon.
The
sports-gear
brand
had
earlier
slashed
production
at
factories
in
China
and
Vietnam,
trimmed
marketing
spending
which
spiked
in
2008
in
advance
of
Beijing
Olympics
and
reorganised
its
global
business
into
six
geographical
groups.
OneIndia News
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Story first published: Friday, May 15, 2009, 12:27 [IST]