Market Chatter: Nike Unit Converse Instructs Remote Work Amid Reorganization, Workforce Reductions

MT Newswires Live

Feb 10

Nike's (NKE) Converse unit instructed employees to work remotely this week as the brand implements structural changes aimed at recapturing sales growth, Bloomberg News reported Monday, citing a company memo.

The reorganization involves creating new positions and relocating certain teams, the news outlet reported, citing a note from the brand's CEO Aaron Cain.

Cain also said the brand faced "difficult decisions" that will involve workforce reductions, though specific figures were not provided, Bloomberg reported.

Nike did not immediately respond to MT Newswires' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 62.89, Change: -1.03, Percent Change: -1.61

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