Close Menu
  • Entertainment
  • Lifestyle
  • Relationships
  • Tips & Tricks
  • Celebrity Kids
Facebook X (Twitter) Instagram
  • Disclaimer
  • About us
  • Privacy Policy
  • Contribute & Advertise with Us
Facebook X (Twitter) Instagram Pinterest Vimeo
GistFestGistFest
  • Entertainment

    The Aesthetic Economy: How Fashion, Filters & Vibes Are Now Bigger Than Talent

    August 5, 2025

    Hollywood’s ‘Summer of Scandals’: PR Nightmares, Leaks & the Rise of the Apology Tour

    August 4, 2025

    “Wakanda Meets Wall Street”: Black Panther Spinoff Series Set in a Futuristic Financial World

    July 31, 2025

    From Albums to Algorithms: Why Every Artist Is Fighting for a TikTok Moment in 2025

    July 30, 2025

    Nostalgia Never Dies: “Twilight” TV Series in the Works — But Do We Need It?

    July 29, 2025
  • Lifestyle

    The Aesthetic Economy: How Fashion, Filters & Vibes Are Now Bigger Than Talent

    August 5, 2025

    Hollywood’s ‘Summer of Scandals’: PR Nightmares, Leaks & the Rise of the Apology Tour

    August 4, 2025

    “Wakanda Meets Wall Street”: Black Panther Spinoff Series Set in a Futuristic Financial World

    July 31, 2025

    From Albums to Algorithms: Why Every Artist Is Fighting for a TikTok Moment in 2025

    July 30, 2025

    Nostalgia Never Dies: “Twilight” TV Series in the Works — But Do We Need It?

    July 29, 2025
  • Relationships

    The Aesthetic Economy: How Fashion, Filters & Vibes Are Now Bigger Than Talent

    August 5, 2025

    Hollywood’s ‘Summer of Scandals’: PR Nightmares, Leaks & the Rise of the Apology Tour

    August 4, 2025

    “Wakanda Meets Wall Street”: Black Panther Spinoff Series Set in a Futuristic Financial World

    July 31, 2025

    From Albums to Algorithms: Why Every Artist Is Fighting for a TikTok Moment in 2025

    July 30, 2025

    Nostalgia Never Dies: “Twilight” TV Series in the Works — But Do We Need It?

    July 29, 2025
  • Tips & Tricks

    The Aesthetic Economy: How Fashion, Filters & Vibes Are Now Bigger Than Talent

    August 5, 2025

    Hollywood’s ‘Summer of Scandals’: PR Nightmares, Leaks & the Rise of the Apology Tour

    August 4, 2025

    “Wakanda Meets Wall Street”: Black Panther Spinoff Series Set in a Futuristic Financial World

    July 31, 2025

    From Albums to Algorithms: Why Every Artist Is Fighting for a TikTok Moment in 2025

    July 30, 2025

    Nostalgia Never Dies: “Twilight” TV Series in the Works — But Do We Need It?

    July 29, 2025
  • Celebrity Kids

    Brody Jenner Ties the Knot With Tia Blanco in Dreamy Malibu Ceremony — See the Intimate Moments

    July 17, 2025

    Madison LeCroy Welcomes Baby No. 2 — the Heartwarming Story Behind the Name

    July 9, 2025

    Ariana Zolciak Supports Kim Zolciak and Siblings Amid Ongoing Money Issues

    July 7, 2025

    Sofia Richie and Elliot Grainge Revisit Lavish Wedding Venue Amid Backlash Over Cheating Rumors

    June 24, 2025

    Exes Megan Fox and MGK Unveil Their Baby Girl’s Name Following ‘Celestial Seed’ Mix-Up

    June 20, 2025
Subscribe
GistFestGistFest
Home » Nike Set to Layoff 1,600 Employees Amid “Woke” Drama
General

Nike Set to Layoff 1,600 Employees Amid “Woke” Drama

KharisBy KharisApril 28, 20243 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Nike shoe store
Source: Pinterest
Share
Facebook Twitter LinkedIn Pinterest Email
Nike shoe store
Source: Pinterest

Nike, the huge sportswear company, is set to reduce its workforce by about 1,600 employees, which is about 2% of its global staff, as part of a much bigger plan to reduce cost of production by $2 billion.

The decision was done in the midst of some bad bad performance which makes it seem as though the company is planning to change their strategy.

CEO John Donahoe,who spoke about the situation, actually admitted to the fall in the performance of the company and took full responsibility for it, stating, “This is a painful reality and not one that I take lightly.

We are not currently performing at our best, and I ultimately hold myself and my leadership team accountable,” he continued. Since December, there have been rumors that some workers may lose their jobs during the period when Nike unveiled its cost-cutting and restructuring strategy.

ALSO READ: Laid-Off Tesla Worker Recounts Moving Across the Country for Job Six Months Ago

Donahoe, however, said that he was confident in the abilities of the company to balance itself in these economic times. “Nike has a proud history where the most challenging moments bring out the best in us, individually and as a team. I know we will come together to respond once again, and I am confident in our future.”

Since late May, the layoffs had already begun. At first, it affected the company’s Oregon headquarters. In response to this, former Nike employees have come together to create alumni groups aimed at supporting those affected.

These groups would help as a network to move individuals into society, many of whom would try on new businesses post-Nike employment.

POLL—Should the Government Increase Taxes on the Wealthy To Reduce Economic Inequality?

Jana Panafilio, a Nike veteran, highlighted the prevalence of former employees founding their own businesses, stating, “There is a disproportionate number of former Nike people that start their own companies.

They are looking for talent, and they are looking for clients.” Panafilio emphasized the availability of resources within these alumni networks to assist individuals in their post-Nike endeavors.

The decision to downsize comes amid a turbulent period for Nike, with its stock experiencing a double-digit drop in December coinciding with the announcement of budget cuts.

Additionally, high-profile departures, such as Tiger Woods ending his long-standing partnership with Nike to launch his own brand, have further underscored the company’s challenges.

ALSO READ: Federal Reserve Holds Key Interest Rate at Over 5% Amid Inflation

While Nike has stated that store and distribution center staff will not be affected by the layoffs, the way they are restructuring is showing that the company is putting some effort into managing the challenges of a company to maximize profits while minimizing costs as well as the political policies that can affect the company.

However, they believe that by reducing operations and focusing its efforts, they will adapt to the recent business environment as well as remain at the top of the sportswear business.

You Might Also Like:

Tesla Announces Plan to Lay Off Over 10% of Workforce

Google CEO Pichai Calls for Reset After Company Fired Activists

Audit Reveals Sarah Sanders’ Office Potentially Broke the Law in $19k Lectern Controversy

Cornel West Announces BLM Activist Melina Abdullah as His Vice President

Study Finds LGBT Adults in the US Are More Likely to Experience Discrimination at the Doctor’s Office

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticlePennsylvania School Board Uninvites Gay Actor for Anti-Bullying Talk Over His “Lifestyle”
Next Article U.S Rep. Marjorie Taylor Greene Says the U.S Should Have Deported Murdered Student Laken Riley

Related Posts

Entertainment

Hollywood’s ‘Summer of Scandals’: PR Nightmares, Leaks & the Rise of the Apology Tour

August 4, 2025
Entertainment

“Wakanda Meets Wall Street”: Black Panther Spinoff Series Set in a Futuristic Financial World

July 31, 2025
Entertainment

Slasher Nostalgia: I Know What You Did Last Summer Legacy Sequel

July 24, 2025
Latest Posts

The Aesthetic Economy: How Fashion, Filters & Vibes Are Now Bigger Than Talent

August 5, 2025

Hollywood’s ‘Summer of Scandals’: PR Nightmares, Leaks & the Rise of the Apology Tour

August 4, 2025

“Wakanda Meets Wall Street”: Black Panther Spinoff Series Set in a Futuristic Financial World

July 31, 2025

From Albums to Algorithms: Why Every Artist Is Fighting for a TikTok Moment in 2025

July 30, 2025

Nostalgia Never Dies: “Twilight” TV Series in the Works — But Do We Need It?

July 29, 2025

Beyoncé’s Cowboy Carter Era: How She’s Redefining Country Music One Boot at a Time

July 28, 2025

Top 5 Entertainment Moments: Akshay, SRK & Amitabh in the Spotlight

July 25, 2025

Slasher Nostalgia: I Know What You Did Last Summer Legacy Sequel

July 24, 2025
About
About

We’re a news, entertainment and lifestyle hub that is dedicated to giving you quality insight on the latest lifestyle news, movie and TV news, celebrity news and lots more.

Contact us: info@gistfest.com

MOST POPULAR

Alina Nikitina: Everything We Know About the Russian Model

October 4, 2023

Jacob’s Ladder Piercing: All You Need To Know

July 21, 2023

Jennifer Rauchet: Inside the Life of Pete Hegseth’s Wife

August 30, 2023

Subscribe to Updates

Get the latest news delivered straight to your inbox!

Facebook X (Twitter) Instagram
  • Disclaimer
  • About us
  • Privacy Policy
  • Contribute & Advertise with Us
© 2025 GistFest. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.