Nike implements job cuts at European headquarters
Nike is, according to Bloomberg, implementing layoffs across its European headquarters as part of a global strategy to reduce operational costs by $2 billion. The job cuts, impacting roughly 2 percent of its workforce worldwide, have already seen around 750 employees dismissed from its Beaverton, Oregon headquarters. The reduction extends ...
Galeria's investors pledge €100 million, seek restructuring, Sunday shopping and name change
According to media reports, Galeria Karstadt Kaufhof’s new owners are poised to inject up to €100 million into the company to revamp its remaining department stores over the next two to three years.
Peloton announces major workforce reduction amid financial struggles
In a move reflecting ongoing financial challenges, indoor training platform Peloton has revealed plans to cut 15 percent of its workforce, equating to approximately 400 positions, alongside the resignation of CEO Barry McCarthy.
Decathlon closes one more store in Sweden, only has one left
Decathlon revealed plans to shut down three of its stores in Sweden, citing challenges amid the global economic climate. The closures will affect Decathlon Kungens Kurva, Decathlon Barkarby and Decathlon Uppsala, impacting a total of 72 employees. Explaining the decision, a Decathlon spokesperson stated: “The Swedish market is specific and ...
Nike’s headquarters to undergo major layoffs, impacting hundreds
Nike’s headquarters in Oregon will see significant layoffs affecting hundreds of employees by June, according to a WARN notice filed with the state of Oregon on April 19.
Former Kaufhof owner reportedly taking over Galeria Karstadt Kaufhof
According to German business publication Handelsblatt, US investor NRDC Equity Partners is to be granted the contract to operate the 92 locations of the German department store chain Galeria Karstadt Kaufhof.
Boardriders is laying off more employees in California
Boardriders is dismissing 464 more workers in California, according to a notice dated Feb. 1, filed with the California Employment Development Department in compliance with the federal Worker Adjustment and Retraining Notification (WARN) Act and the California WARN Act.
Alibaba logistics unit Cainiao drops IPO plans
Alibaba announced that its logistics subsidiary Cainiao Smart Logistics Network Limited has withdrawn its initial public offering and listing application on the Hong Kong stock exchange. The Chinese online retailer plans to offer minority shareholders of Cainiao, including employees, the possibility to sell all their shares for $0.62 per share, ...
Tennis-Point Spain seeks new CEO
Tennis-Point Spain and its CEO, Miquel Just, agreed on Feb. 29 to sever the contract they signed exactly four years earlier, according to CMDsport.
JD Sports’ Dutch retailers Perry Sport, Aktiesport, Sprinter now closing
Closing its final lot of Dutch retailers, JD Sports’ Perry Sport, Aktiesport and Sprinter stores will shutter on Tuesday. Curator Kees van de Meent confirmed to De Telegraaf the closure of the last six branches, operated under JD’s subsidiary Sports Unlimited Retail, which went bankrupt in 2023.