Nike to cut 775 employees
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By Neil J Kanatt and Nicholas P. Brown Jan 26 (Reuters) - Nike is laying off 775 employees, a source familiar with the matter told Reuters on Monday, as the sportswear giant looks to boost profits and accelerate its use of automation.
TJX Companies operates an off-price retail business under well-known brands like TJ Maxx, Marshalls, and HomeGoods. The company buys merchandise, which includes apparel, jewelry, beauty products, and home goods like furnishings, at attractive prices. It can execute this strategy, since manufacturers may have too much inventory of certain items.
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According to the brand, targeted stimulation of the soles of the feet can activate neural pathways, sharpen sensory awareness, and help improve focus and concentration.
As supply chain demands shift, the shoe giant is returning to wholesale partnerships and reducing its own distribution costs.