China Financial Daily

Global economic recession: Nike will layoff 1400 employees
News on February 18: U.S. sporting goods giant Nike (Nike) that in response to a serious global economic recession, Nike will layoff 1400 employees.

Nike pointed out that the layoff was one part of corporate restructuring plan, including re-examine the entire production line from procurement to retail. Nike Inc., established in the United States, Oregon, the layoffs account for about 4% of its 35,000 employees.

Nike denies removing the capital from China
On Oct.28, relevant personnel of Nike expressed that the company had no plan to remove the capital from China. Aiming at the rumor that the Nike and other international sporting goods companies drawing from China, Nike spokesman expressed Nike would keep the current level of Chinese investment and production. In order to face the global financial crisis and the rising costs of raw materials, Nike will enhance the production efficiency, control production costs.

Nike claimed to take root in China for long-term
Chief executive of Nike, Mark Parker expressed that Nike did not care the short-term impact from rising cost, and they would take root in China for a long time.