The $300 million charge comes as Nike has been on a years-long turnaround plan that has included several rounds of layoffs.
BEAVERTON, Ore. — This story comes from the Portland Business Journal, a KGW News partner. The full story is here.
Nike expects a $300 million charge for severance and reorganization costs, the company (NYSE: NKE) said in Thursday securities filing.
Nike “has been evaluating opportunities to operate more efficiently and profitably through realigning costs, while also investing to reignite growth,” according to the Securities and Exchange Commission filing.
The filing said “certain organizational changes” along with previously approved action will result
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