NEW YORK: Nike plans to cut an undetermined number of jobs and establish a new campus in India as it seeks to accelerate a turnaround following another downcast quarter.
The sports giant unveiled the plan as it reported a modest decline in quarterly profits on lower sales.
The company projected sales in the current fiscal year would fall by "high-single digits," according to an earnings statement.
"We're building Nike for the long-term," chief executive Elliot Hill said during a conference call in which he touted the company's burgeoning relationship with women's basketball starNike plans job cuts as it forecasts lower sales
