Nike Reportedly To Cut More Jobs

(RTTNews) - Nike (NKE) is planning another round of job cuts to help the company grow again, according to CNBC. The layoffs will affect fewer than 1% of Nike's office staff. It's not clear how many people will lose their jobs, but the EMEA region and Converse brand won't be affected.

Back in February, Nike reportedly said it would cut 2% of its workforce—over 1,500 jobs—as part of a bigger plan to reorganize. This new round of layoffs is part of CEO Elliott Hill's effort to change how teams work inside the company.

Earlier, under former CEO John Donahoe, Nike changed its business setup. Instead of organizing by sport, the company started dividing its products into women's, men's, and kids' categories to grow its lifestyle business.