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Nike is deepening its restructuring under CEO Elliott Hill as its woes in China intensify, announcing a plan to cut more jobs and shake up its global business divisions after the sportswear giant projected a surprisingly steep drop in full-year revenue.
Nike Faces A Major Business Reset Nike is going through one of the most difficult periods in its recent history, with falling sales, weaker demand for some of its biggest footwear lines and a sharp decline in its stock value. The sportswear giant’s revenue fell 4% to $11.2 billion in the quarter ended August 31, […]