Nike to axe 775 jobs

Nike is cutting 775 employees as the company looks to boost its bottom line and accelerate its use of “automation,” CNBC writes.

The layoffs, which are in addition to the 1,000 corporate job cuts the company announced last summer, primarily impact distribution center roles in Tennessee and Mississippi, where the sneaker giant operates large warehouses, people familiar with the matter said.

“We’re taking steps to strengthen and streamline our operations so we can move faster, operate with greater discipline, and better serve athletes and consumers,” Nike said in the statement. “We are sharpening our supply chain footprint, accelerating the use of advanced technology and automation, and investing in the skills our teams need for the future.”