Nike is cutting about 1,700 jobs

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lay off
Nike will lay off about 2% of its employees or close to 1,700 people, as the sportwear behemoth looks to cut as much as 2 billion dollars in costs.
оқуды бастаңыз
(phrasal verb) = shed, trimming
behemoth
as the sportwear behemoth looks to cut as much as 2 billion dollars in costs.
оқуды бастаңыз
(noun) = titan
grateful
we are grateful for the contributions made by all Nike teammates
оқуды бастаңыз
(adj) tri ân
slash
In December, Nike slashed its revenue forecast and announced cost cuts amid growing concerns that customers around the world are slowing their spending.
оқуды бастаңыз
(verb) reduce something by large amount
pass up
Customers are changing their behavior, passing up discretionary purchases of goods for basics and experiences such as concerts and travel.
оқуды бастаңыз
(phrasal verb) to choose not to make use of a chance or opportunity
discretionary
mua sắm tuỳ ý
Customers are changing their behavior, passing up discretionary purchases of goods for basics and experiences such as concerts and travel.
оқуды бастаңыз
(adj) tuỳ ý
upstart brands
Nike is also facing tough competition from upstart brands like Hoka and On Cloud.
оқуды бастаңыз
(noun) new brands
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downbeat
China, the world’s second-largest economy, is facing huge challenges, from downbeat consumers to a real-estate slump and weaker exports.
оқуды бастаңыз
(adj) = gloomy or depressing
flatline
Europe avoided a recession by the slimmest of margins in the last three months of 2023, with its economy flatlining
оқуды бастаңыз
(verb) maintain at low level, cannot improve

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