The expected job cuts at Nike appear to have accelerated in recent days.
Nike CEO John Donahoe sent a letter to employees in June where he wrote the company would overhaul its management structure that would likely result in job cuts.
The Oregonian reported that Nike had laid off more than 100 vice presidents over the summer. Susquehanna International Group analyst Sam Poser wrote in a note to investors on Oct. 5 that Nike’s overall job force will be “reduced by 7% to 10%” once the reorganization is complete.
Chatter on message sites, like TheLayoff.com, have heated up this week with the “band” of employees targeted in the current round of layoffs.
That included S-band employees, which typically are Nike senior directors.
“Based on our proprietary checks, it has become evident that a large number of senior directors who oversaw major athletic specialty retailers, family footwear and moderate retailers, and department stores were let go from Nike,” Poser said in the letter.
“The layoffs are not a surprise and fit into the changes that Nike’s management has discussed on recent earnings calls,” he added. “Our proprietary checks also indicate that layoffs of less senior Nike employees will be implemented over the next few weeks.”
Nike did not return multiple messages seeking comment. In a statement to The Oregonian in July, Nike said its management “changes are expected to lead to a net loss of jobs, which is always difficult.”
Nike had about 75,400 employees as of May, according to Statista. If the layoffs are in the 7-10% range, that’d be between about 5,300 and 7,500 workers.