It was only a matter of time before the troubled economy started effecting the footwear companies, in such a way where layoffs have to be made. Earlier today Nike reported that they may cut up to 1,400 jobs, or 4% of its work force to reduce costs as it restructures its business. At the moment Nike currently employees 35,000 people around the world.

At this time Nike has not committed to an exact number of how many people will be cut out of a job. The company still has a lot to review and go over before they set it in stone what employees will lose a job and where exactly the cuts will be made. Via: USA Today