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Nike is laying off employees at its European headquarters in the Netherlands as part of a $2 billion cost-cutting plan. The layoffs affect 2% of its global workforce, with different timelines in Europe due to local labor laws

Nike Layoffs: Employees in Netherlands laid off as part of cost cutting measure

<h2>Nike is laying off employees at its European headquarters in the Netherlands as part of a $2 billion cost-cutting plan. The layoffs affect 2% of its global workforce, with different timelines in Europe due to local labor laws</h2>

Nike has laid off employees in its European headquarters in Netherlands as part of its effort to cut costs, reported Bloomberg. As per the report, the Nike campus in the Netherlands which is located in the city of Hilversum, just outside of Amsterdam, and known internally as European Headquarters is home to more than 2,000 employees.
<h3>Layoffs by Nike</h3>
As part of a plan to slash $2 billion in cost, Nike is planning to layoff about 2% of its global workforce. At its global headquarters in Beaverton, Oregon about 750 employees were let go. Meanwhile, a Nike subsidiary in Boston also eliminated some staff.&nbsp;
As per Bloomberg, Nike's CEO John Donahoe in an internal memo mentioned that the planned cuts in Europe, the Middle East and Africa would take place in different timelines than those in its home market.
Starting in February, the staff cuts in North America occured in two phases. However, the layoffs in Europe did not start until recently due to differences in local labor laws. Europe, the Middle East and Africa accounted for about $13.4 billion in revenue for Nike, or around 26% of its global sales, last year.
&ldquo;The actions that we&rsquo;re taking put us in the position to right-size our organization to get after our biggest growth opportunities as interest in sport, health and wellness have never been stronger", a Nike Spokesperson told Bloomberg.
Also watch: <a href="https://www.editorji.com/business-news/tech-layoffs-2024-microsoft-to-reportedly-cut-1-500-jobs-1717568470055">Tech layoffs 2024: Microsoft to reportedly cut 1,500 jobs</a>
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American sportswear giant Nike will supply all of Germany's national teams with its apparel and equipment from 2027.

Nike deal ends Germany football team's decades long association with Adidas

American sportswear giant Nike will supply all of Germany's national teams with its apparel and equipment from 2027.

German soccer and Adidas are breaking up.
American sportswear giant Nike will supply all of Germany's national teams with its apparel and equipment from 2027, the German soccer federation (DFB) announced Thursday.
The new deal extends to 2034 and ends Germany's long-standing association with Adidas, which goes back some 70 years.
&ldquo;We're looking forward to working with Nike and the trust they've placed in us,&rdquo; federation president Bernd Neuendorf said in a statement.
&ldquo;The future partnership will enable the DFB to continue to carry out key tasks in the coming decade with regard to the comprehensive development of soccer in Germany. But one thing is also clear &mdash; until December 2026, we will do everything we can to achieve shared success with our long-standing and current partner Adidas, to whom German soccer has owed a lot for more than seven decades.&rdquo;
Adi Dassler, the founder of the German sportswear brand, sat on the bench beside West Germany coach Sepp Herberger when the German team won the World Cup for the first time in 1954, wearing his company's screw-in stud boots.
Dassler did not invent the boots with changeable studs, as many believe. They were invented some years before by German shoemaker Alexander Salot, who registered his invention with the German patent office on Aug. 30, 1949.
But they certainly helped the Germans beat Hungary in the 1954 World Cup final.
Dassler's company has been supplying German soccer with its gear ever since, and only last week it presented the new jerseys for the upcoming European Championship, which Germany is hosting this summer.&nbsp;

Nike Layoffs 2024: Previously, in December, the company announced its aim to reduce costs by nearly $2 billion over three years

Nike Layoff 2024: Company to reduce workforce by 2%, job cuts for nearly 1600 workforce

Nike to lay off 2% of global workforce

<h2>Previously, in December, the company announced its aim to reduce costs by nearly $2 billion over three years</h2>

Nike Layoffs: American sportswear giant Nike has revealed plans to cut nearly 2% of its global workforce as part of cost-cutting measures and heightened competition.
The exact number of employees affected has not been disclosed, but with an estimated 83,000 employees worldwide, the layoffs will impact approximately 1600 of the total workforce.
Nike's decision comes amidst weaker sales and growing competition in the athletic footwear and apparel industry.
In December, Nike unveiled a $2 billion savings initiative spanning three years. Measures include product supply adjustments, supply chain enhancements, management streamlining, and greater automation.
Additionally, the company projected employee severance expenses of approximately $400 million to $450 million in the third quarter.
Also Read: <a href="https://www.editorji.com/business-news/hcl-technologies-asks-its-employees-to-report-to-office-thrice-a-week-1708077467085">HCL Technologies asks its employees to report to office thrice a week</a>

Nike's recyclable shoes become fodder for memes on the internet


Nike's ISPA Mindbody sneakers are a 'joke' on the internet; here's why

Nike's recyclable shoes become fodder for memes on the internet

Nike's latest sneakers ISPA Mindbody trainers are being heavily mocked on the internet. The sneakers have a moulded look and are worth $180 (₹14,750).
As internet users came across the pictures of Nike's recyclable sneakers, they started mocking it and said that it looks like they've been picked out of a landfill.&nbsp;
According to the official website, these shoes are made with recycled yarn and are designed to be easily disassembled. Nike further described these shoes as the new definition of rest and recreation.
These shoes also have a foam midsole and can be easily disassembled. Other than this, it is also available in neon green colour.&nbsp;
Well, this is not the first time when social media users have disapproved of shoes or outfits that were anti-fashion. Earlier, Balenciaga, Diesel, and other fashion brands have been on the radar of fashion enthusiasts for launching anti-fashion things.&nbsp;
However, in their defence, these brands said that not everything is about utility and fashion, sometimes it is about art and taking care of the environment too.
Also Watch: <a href="https://www.editorji.com/l/f/destroyed-cap-is-balenciaga-s-latest-bizarre-product-here-s-how-much-it-costs-1678429558412">Destroyed cap is Balenciaga's latest bizarre product; here's how much it costs</a>

Shoe-maker Pou Chen that makes shoes for brands like Nike and Adidas is will invest over ₹2,000 crore in India. A manufacturing unit will be set up in Tamil Nadu that will create about 2000 jobs

Nike, Adidas shoe-maker to invest over Rs 2,000 crore in India

Shoe-maker Pou Chen that makes shoes for brands like Nike and Adidas is will invest over ₹2,000 crore in India. A manufacturing unit will be set up in Tamil Nadu that will create about 2000 jobs

Leading Taiwanese footwear company Pou Chen which is known to make shoes for brands like Nike, Adidas, Timberland and New Balance will reportedly invest more than ₹2,000 crore in India. Pou Chen will set up a manufacturing unit in Tamil Nadu which is expected to create about twenty thousand jobs over a period of 12 years.
In a meeting with Tamil Nadu Chief Minister MK Stalin, Pou Chen's Vice President, George Liu said, "We hope this would be the first of many investments to come (in India)". The shoe-maker already has plants in Bangladesh, Cambodia, Myanmar, and Vietnam. So far, Pou Chen has manufactured and shipped more than 272 million pairs of shoes in FY22 globally. This is a 14% rise from the previous year.&nbsp;
As per Business Today, an MoU was signed with the top officials of the company and the State investment promotion agency Guidance Tamil Nadu in April last year. This MoU was aimed at creating 20,000 jobs with the majority of employees being women once the manufacturing plant is fully operational.&nbsp;
Under this MoU, the investment will be made in phases over the next 3-5 years. In the past 5 years, Tamil Nadu has manufactured 45% of India's footwear exports

The check-embossed shoes pay tribute to Nike’s signature style with a tiffany twist. They are priced at $400 and will be available from March 7. 

Nike and Tiffany & Co launches luxury sneakers; here's how much they cost

The check-embossed shoes pay tribute to Nike&rsquo;s signature style with a tiffany twist. They are priced at $400 and will be available from March 7.&nbsp;

In what we might call the most surprising and the biggest collab of the year, the sports giant Nike has come together with luxury jewellery creator, Tiffany &amp; Co. to bring a jaw-dropping collection.
The check-embossed shoes pay tribute to Nike&rsquo;s signature style with a tiffany twist. They are priced at $400 and will be available March 7 onwards at Nike retail stores in North America and on the Nike SNKRS app worldwide.
In addition to this, Tiffany &amp; Co. has also announced a co-branded sneaker-inspired collection of sterling-silver accessories priced between $250-$475, like a shoe horn, shoe brush and a dubrae (ornamental tag) made for the Nike x Tiffany &amp; Co. Air Force 1 1837 laces.
It is indeed the first time that Tiffany &amp; Co. has joined hands with a sports brand making fans question their future intentions. While some are gushing over the collection, some are not very impressed.
Also watch:<a href="https://www.editorji.com/story/nike-launches-sneakers-that-look-like-crocs-1566222072553"> Nike launches sneakers that look like Crocs&nbsp;</a>

Amid layoffs, Nike employees say they were blindsided. Many took to social media to express their disappointment, saying they did not receive adequate support from the company 

After tech firms, sportswear brand Nike layoffs employees

Amid layoffs, Nike employees say they were blindsided. Many took to social media to express their disappointment, saying they did not receive adequate support from the company&nbsp;

After the tech industry announced a spate of layoffs, more industries seem to be following suit.&nbsp; Leading footwear and apparel brand Nike is the latest to cut jobs.&nbsp;
Employees who have lost their job took to professional networking platform LinkedIn to share their plight. Most job cuts affected recruiters who said that they have been laid off.&nbsp;
The employees posted on LinkedIn after Nike announced the resignation of Ratnakar Lavu, the top technology executive at the company.
Jordan Ingram, senior talent acquisition partner at Nike, said it was hard for him to find the words.
"Like many other amazing people lately, I was laid off from Nike yesterday. If you have followed me or worked with me at all, you know how much I love my career and what I get to do. #SeniorTechRecruiter I take serious the opportunity to change people's lives, and there is no greater joy then being able to love your job and the company you work for," Ingram posted on LinkedIn.
"I am open to work, and I need to be working for my family," he added. As per reports, one of Vietnam's largest shoe manufacturers for major brands such as Nike and Adidas plans to cut thousands of jobs at the end of the month due to a slump in orders.&nbsp;

Adidas has announced to sell&nbsp;Reebok to Authentic brands Group for $2.5 billion as the sporting goods company concentrates on its core brand.&nbsp;
The closing of the transaction is expected to occur in the first quarter of 2022.&nbsp;Adidas bought Reebok for $3.8 billion in 2006 but its sluggish performance prompted repeated calls from investors to sell the brand.
Adidas said it&nbsp;will continue to focus on executing its 'Own the Game' strategy. This&nbsp;will enable the company to grow in an attractive industry, gain market share, and create sustainable value for all of its stakeholders, said Kasper Rorsted, CEO of Adidas AG.
In 2016 Reebok initiated a turnaround plan called 'Muscle Up' through which the brand was able to significantly improve its growth and profitability prospects. In March of this year, Adidas presented its 2025 'Own the Game' strategy designed to significantly increase sales and profitability and gain market share by 2025.
During the strategy formulation process, Adidas assessed strategic alternatives for Reebok with a focus on ensuring both Adidas and Reebok would be well-positioned for sustainable growth. Following this evaluation, Adidas decided to focus its efforts on further strengthening the leading position of the Adidas brand in the global sporting goods market and announced the initiation of a formal process to divest Reebok in February 2021.
The sale of Reebok has no impact on Adidas&rsquo; financial outlook for the current year or the company&rsquo;s 2025 financial ambition that was announced as part of its Own the Game strategy in March of 2021.

Adidas to sell Reebok for $2.5 billion to Authentic Brands Group

Adidas has announced to sell&nbsp;Reebok to Authentic brands Group for $2.5 billion as the sporting goods company concentrates on its core brand

Sportswear brand Adidas has announced to sell Reebok for $2.5 billion, 16 years after buying the underperforming&nbsp;company for $3.8 billion, to US-based Authentic Brands Group.
The buyer firm is the parent company to brands like Forever 21, Sports Illustrated, Nautica, Juicy Couture, JCPenny and more.
Adidas, however, said it plans to sell Reebok as the Germany-based sporting goods company concentrates on its core brand.&nbsp;
The closing of the transaction is expected to occur in the first quarter of 2022.&nbsp;Adidas bought Reebok for $3.8 billion in 2006 but its sluggish performance prompted repeated calls from investors to sell the brand.
Adidas said it&nbsp;will continue to focus on executing its 'Own the Game' strategy. This&nbsp;will enable the company to grow in an attractive industry, gain market share, and create sustainable value for all of its stakeholders, said Kasper Rorsted, CEO of Adidas AG.

The closing of the transaction is expected to occur in the first quarter of 2022.

Sportswear brand Adidas has announced to sell Reebok for $2.5 billion, 16 years after buying the underperforming&nbsp;company for $3.8 billion, to US-based Authentic Brands Group.
The buyer firm is the parent company to brands like Forever 21, Sports Illustrated, Nautica, Juicy Couture, JCPenny and more.
Adidas, however, said it plans to sell Reebok as the Germany-based sporting goods company concentrates on its core brand.&nbsp;
The closing of the transaction is expected to occur in the first quarter of 2022.&nbsp;Adidas bought Reebok for $3.8 billion in 2006 but its sluggish performance prompted repeated calls from investors to sell the brand.
Adidas said it&nbsp;will continue to focus on executing its 'Own the Game' strategy. This&nbsp;will enable the company to grow in an attractive industry, gain market share, and create sustainable value for all of its stakeholders, said Kasper Rorsted, CEO of Adidas AG.
Jamie Salter, Founder, Chairman and CEO of ABG commented, &ldquo;It&rsquo;s an honor to be entrusted with carrying Reebok&rsquo;s legacy forward. This is an important milestone for ABG, and we are committed to preserving Reebok&rsquo;s integrity, innovation, and values - including its presence in bricks and mortar. We look forward to working closely with the Reebok team to build on the brand&rsquo;s success.&rdquo;
In 2016 Reebok initiated a turnaround plan called 'Muscle Up' through which the brand was able to significantly improve its growth and profitability prospects. In March of this year, Adidas presented its 2025 'Own the Game' strategy designed to significantly increase sales and profitability and gain market share by 2025.
During the strategy formulation process, Adidas assessed strategic alternatives for Reebok with a focus on ensuring both Adidas and Reebok would be well-positioned for sustainable growth. Following this evaluation, Adidas decided to focus its efforts on further strengthening the leading position of the Adidas brand in the global sporting goods market and announced the initiation of a formal process to divest Reebok in February 2021.
The sale of Reebok has no impact on Adidas&rsquo; financial outlook for the current year or the company&rsquo;s 2025 financial ambition that was announced as part of its Own the Game strategy in March of 2021.

The big split between Sports Apparel giants Nike and football superstar Neymar&nbsp;could have been due to a sexual assault case. Reports suggest that contrary to the earlier stories that Neymar&nbsp;and Nike parted ways due to commercial interests, it's now emerged that the Brazilian superstar allegedly sexually assaulted a Nike employee while shooting a commercial. After Nike and its officials persuaded Neymar&nbsp;to be part of an investigation, the footballer refused and denied any wrongdoing. The alleged incident took place in 2016 but was reported to Nike in 2018 by the employee. Neymar&nbsp;after the split with Nike moved to another sports giant Puma for a multi-million dollar deal.&nbsp;

Nike-Neymar split due to probe into alleged sexual assault?

Reports: After Nike officials persuaded Neymar&nbsp;to be part of an investigation, the footballer refused and denied any wrongdoing

The big split between Sports Apparel giants Nike and football superstar Neymar&nbsp;could have been due to a sexual assault case. Reports suggest that contrary to the earlier stories that Neymar&nbsp;and Nike parted ways due to commercial interests, it's now emerged that the Brazilian superstar allegedly sexually assaulted a Nike employee while shooting a commercial. After Nike and its officials persuaded Neymar&nbsp;to be part of an investigation, the footballer refused and denied any wrongdoing. The alleged incident took place in 2016 but was reported to Nike in 2018 by the employee. Neymar&nbsp;after the split with Nike moved to another sports giant Puma for a multi-million dollar deal.&nbsp;

American rapper Lil Nas X launched a pair of &lsquo;Satan shoes&rsquo; in collaboration with a Brooklyn-based prank company MSCHF&nbsp;and they sold out in minutes!
According to reports, the shoes had a drop of actual human blood in them.
The controversial red and black sneakers were made using&nbsp;Nike Air Max 97s and Nike isn't really happy about it.&nbsp;
The American multinational corporation has sued&nbsp;MSCHF&nbsp;for&nbsp;trademark infringement and dilution.&nbsp;
Nike added that the shoes sought no approval or authorization from them.&nbsp;

Nike sues company that made 'Satan shoes' with real blood in collab with Lil Nas X 

American rapper Lil Nas X launched a pair of &lsquo;Satan shoes&rsquo; that had a drop of actual human blood in them and Nike isn't happy about it.&nbsp;

American rapper Lil Nas X launched a pair of &lsquo;Satan shoes&rsquo; in collaboration with a Brooklyn-based prank company MSCHF&nbsp;and they sold out in minutes!
According to reports, the shoes had a drop of actual human blood in them.
The controversial red and black sneakers were made using&nbsp;Nike Air Max 97s and Nike isn't really happy about it.&nbsp;
The American multinational corporation has sued&nbsp;MSCHF&nbsp;for&nbsp;trademark infringement and dilution.&nbsp;
Nike added that no approval or authorization was sought from them.&nbsp;

50 of the rarest and most valuable Nike shoes are going up for grabs as part of a sale called 'Scarce Air' by Sotheby's and Chicago sneaker store English Sole.
The auction features some coveted sneakers including Air Yeezy 2s signed by Kanye West and&nbsp;Nike Air Force 1s.&nbsp;Three pairs of&nbsp;Air Jordan 9s,&nbsp;Air Jordan 11s&nbsp;and&nbsp;Air Jordan 3s will also be a part of the sale.
Bidding for the auction has begun and goes on till the 29th of March on the Sotheby's&nbsp;website.&nbsp;If you're a sneaker lover, this one's not to be missed.&nbsp;

Nike's rarest and most valuable sneakers are going up for grabs at Sotheby's 

50 of the rarest and most valuable Nike shoes are going up for grabs as part of a sale called 'Scarce Air' by Sotheby's and Chicago sneaker store English Sole.
The auction features some coveted sneakers including Air Yeezy 2s signed by Kanye West and&nbsp;Nike Air Force 1s.&nbsp;Three pairs of&nbsp;Air Jordan 9s,&nbsp;Air Jordan 11s&nbsp;and&nbsp;Air Jordan 3s will also be a part of the sale.
Bidding for the auction has begun and goes on till the 29th of March on the Sotheby's&nbsp;website.&nbsp;If you're a sneaker lover, this one's not to be missed.&nbsp;

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