"Dream - Nike, a clothing and sports company, has terminated employment (PHK) for more than 1,500 of its employees, representing 2% of its current workforce."

According to CNBC International, the sportswear giant based in Beaverton, Oregon, United States, wants to utilize its capital more effectively to invest in developing areas such as running sports, women's clothing, and the Jordan brand.

Nike said layoffs will be carried out in two stages. The company will start the first stage this week and complete the second stage by the end of the fourth fiscal quarter, which usually ends in late May.

Pruning in the EMEA Nike region will be carried out on different schedules based on local labor laws.

"Departments that will undergo layoffs are still unclear, but these layoffs will not affect retail employees at Nike stores or warehouse workers."