Nike has announced new measures to 'streamline' its organization with cuts totaling $2billion - and it might see some employees out of work. Officials did not say whether the cost-cutting effort would include layoffs, but did say it expects to incur nearly half a billion from mostly severance costs - more than double what it forecast prior to its last mass firing.Those firings - 700 of them - occurred in the midst of the pandemic in 2020, and were also billed as a 'streamlining' effort. Now, Nike's in the midst of a slump, as it continues to see its once dominant stranglehold on the market dwindle.
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