Nike (Beaverton, Ore.) announced it will be cutting at least 500 jobs from its headquarters in Beaverton, Ore., WWD reports. The layoffs will reportedly go into effect Oct. 1.
Before it was revealed how many employees would be cut, the company outlined a restructuring plan last week saying it anticipates between $200 between $250 million in employee termination costs.
The company is also planning to permanently close its childcare centers, which will reportedly impact 192 employees. A Nike spokesman told WWD that the company is changing its childcare strategy and is planning to launch a new childcare benefit across the U.S.