June 15 Nike Inc said on Thursday it
would cut about 2 percent of its global workforce as part of
efforts to simplify its organizational structure, that will
bring down its business segments to four from six.
The new operating segments are: North America; Europe,
Middle East and Africa; Greater China; and Asia Pacific and
Nike also said it would reduce the number of its shoe styles
by a quarter, focusing on key brands such as ZoomX, Air VaporMax
and Nike React.
Nike's shares were down 2 percent at $53.59 in morning
(Reporting by Siddharth Cavale in Bengaluru; Editing by Sai