‘NIMBLER’ NIKE PLANS JOB CUTS

Nike Inc. is cutting jobs as the world’s largest athletic brand refocuses on selling directly to consumers, pushing further away from a traditional retail channel that’s been ravaged by the pandemic. CEO John Donahoe, who took the helm at Nike in January, announced a new phase in its e-commerce push Thursday called the Consumer Direct Acceleration. He also sent employees a memo, first reported by the Complex website, saying that the changes would probably result in layoffs. Nike confirmed that job cuts were coming in a statement Friday. “We are building a flatter, nimbler company and transforming Nike faster to define the marketplace of the future,” the company said. “We anticipate our realignment will likely result in a net loss of jobs.” E-commerce sales were a bright spot for Nike last quarter, growing 75 per cent at a time when overall revenue plunged.