Nike (NKE) Restructuring And Layoffs Put Pressure On Turnaround And Portfolio Reset

NIKE (NYSE:NKE) is rolling out a restructuring plan under CEO Elliott Hill that includes layoffs across parts of the business. Management is targeting a reset of core footwear franchises in sportswear, Jordan and Greater China as sales in these areas weaken. Converse is under fresh scrutiny after a sharp sales drop raised questions about how it fits within NIKE's broader brand portfolio. The restructuring and Converse review point to a deeper story about how NIKE is reshaping its portfolio...