Nike Inc. announced on Friday that it will close 740 positions at its world headquarters in Oregon by June 28 of this year, as indicated in a WARN notice.
"We know these moments are hard, which includes having to make difficult decisions and saying goodbye to friends and teammates," the athletic footwear and apparel giant said in the statement. During its first wave of layoffs in February, Nike shared it would cut around 2% of its total workforce.
The company's stock traded 0.58% lower to sell at $95.18 apiece at 2:38 pm ET.