Nike Joins Growing List of US Companies Doing Large Layoffs
Companies are dealing with over-hiring in past years and shifting investment to different areas of the their businesses.
A Nike store in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Some of the biggest names in Corporate America have kicked off the year with large layoffs. Companies announced plans to cut 82,307 positions last month, up 136% from December and the second-most of any in January since the aftermath of the financial crisis in 2009, according to Challenger, Gray, and Christmas. Among the reasons for the cuts, which continued in February, companies are dialing back after over-hiring during the pandemic and trimming certain areas to invest in others, such as artificial intelligence.
Here’s a list of some of the large layoffs announced in 2024: