NEW YORK, Feb 10 (Reuters) - Nike Inc, the world's largest athletic shoe and clothing maker, said on Tuesday it could cut up to four percent of its workforce to reduce costs as it restructures its business.
Up to 1,400 jobs out of about 35,000 globally could be cut.
Nike said it would not know the exact number of jobs that would be eliminated, or the timing and location of the cuts, until it completes a review of its organization by the end of the current fiscal year.
'In light of the current economic climate, it is more essential than ever to sharpen our focus on the consumer to maximize opportunities for product innovation and brand management in the marketplace,' Nike President and Chief Executive Mark Parker said in a statement.
(Reporting by Aarthi Sivaraman) See http://blogs.reuters.com/category/themes/shop-talk/ for SHOP TALK -- Reuters' retail and consumer blog Keywords: NIKE/ (aarthi.sivaraman@thomsonreuters.com; +1 646 223 6191; Reuters Messaging: aarthi.sivaraman.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Up to 1,400 jobs out of about 35,000 globally could be cut.
Nike said it would not know the exact number of jobs that would be eliminated, or the timing and location of the cuts, until it completes a review of its organization by the end of the current fiscal year.
'In light of the current economic climate, it is more essential than ever to sharpen our focus on the consumer to maximize opportunities for product innovation and brand management in the marketplace,' Nike President and Chief Executive Mark Parker said in a statement.
(Reporting by Aarthi Sivaraman) See http://blogs.reuters.com/category/themes/shop-talk/ for SHOP TALK -- Reuters' retail and consumer blog Keywords: NIKE/ (aarthi.sivaraman@thomsonreuters.com; +1 646 223 6191; Reuters Messaging: aarthi.sivaraman.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.