Nike Inc. is entering the second stage of restructuring, which includes up to a 4 percent reduction in its workforce of nearly 35,000 global employees.
The active giant said Tuesday it will review its entire supply chain from the sourcing base to the retail footprint to reduce management layers and leverage efficiencies to increase speed-to-market advantages globally. The exact number, timing and location of positions cut will not be known until the review is completed by the end of the fiscal year, which is May 31.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"