Nike to cut 775 employees, primarily at U.S. distribution centers, CNBC reports

Nike (NKE) is cutting 775 employees in a round of layoffs that are in addition to the 1,000 corporate job cuts it announced last summer, CNBC reported. The cuts primarily impact distribution center roles in Tennessee and Mississippi, people familiar with the matter said. In a statement to CNBC, Nike said the layoffs primarily affect its U.S. distribution operations and are designed to “reduce complexity, improve flexibility, and build a more responsive, resilient, responsible, and efficient operation.”