Nike Is Putting the Finishing Touches on a Restructuring Plan

Nike (NYSE: NKE) is preparing to lay off a significant number of employees as part of a new restructuring plan. That's according to an email that CEO John Donahoe sent employees on Thursday. The email was first reported by Complex Magazine and then CNBC.

Donahoe reportedly said Nike will soon have difficult choices to make that include layoffs occurring in two rounds, with the first starting in late July. "These decisions are exceptionally difficult," he said, "because they impact friends and colleagues at Nike."

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Source Fool.com