In a letter sent to authorities, Michele Adams, the Vice President for people solutions stated that the “second phase of impacts” will start by June 28.
Nike: The company said it was seeking $2 billion in savings over the next three years through steps including tightening the supply of some products, improving its supply chain, reducing management layers and increasing the use of automation.
Nike stock plunged Friday after warning of "softer" revenue, citing weaker consumers. Several peers and rival retail stocks also retreated. The post Nike…