According to Business Insider, Nike is planning two rounds of staff layoffs, that will take place in July and the fall.<br />According to Complex, a company-wide email was sent to Nike workers from CEO John Donahoe.<br />As a result of COVID lockdown closures, the sportswear giant had a net loss of $790 million dollars in Q4.<br />Donahoe says the layoffs are an effort to restructure the "overburdened matrix" of the company. <br />There were no details as to how many people would lose their jobs or which departments would be affected. <br />But, employees at Nike's retail stores, distribution centers, and manufacturing facilities are expected to remain employed.
