The most popular brand Nike has announced to cut hundreds of jobs from the company due to poor sales. The company has now planned to increase the automation of certain services in order to $2 billion in costs.
Nike said that they have been taking steps to streamline the organization and would be spending up to $450 on the changes and mainly on payoffs for employees. However, Nike hasn’t witnessed a substantial sales surge in 2023; its share price fell up to 10 percent.
