Converse Cuts Jobs as Part of Parent Nike’s Cost-Savings Plan

Converse is cutting some jobs as parent company Nike Inc. trims its staff across divisions in search of cost savings.

Nike is undergoing a $2 billion cost-cutting plan that includes slashing 2% of its workforce. Layoffs have hit its Oregon headquarters across two rounds, with the process expected to conclude by the end of its fiscal year, according to an internal memo reviewed by Bloomberg News.