There were no famous athletes at Nike’s annual shareholder’s meeting Thursday, no fashion models, little of the customary glitz and glamour, perhaps befitting a new era of austerity and resurgent competitors.
“This was a particularly challenging, difficult time,” said Mark Parker, Nike chief executive, president and chair, said of the company’s just-ended fiscal year. “Having to let some teammates go” was particularly painful, he said.
Nike announced in June it would lay off 2 percent of its workforce, about 1,400. Just over half those employees came from the company’s Oregon operations. Most were informed of their pending termination in September.
This week brought more bad news: Hard-charging Adidas overtook Nike’…
Read the full article at: http://www.oregonlive.com/business/index.ssf/2017/09/nike_ceo_parker_vows_restructu.html