"Converse employees were instructed to work from home ahead of layoffs and restructuring at the struggling Nike Inc. brand. The changes include new roles and team moves for some staff, according to the note from Converse chief executive officer Aaron Cain, which was viewed by Bloomberg News. Converse "also had to make difficult decisions" which will include "saying goodbye to friends and teammates.""
"Converse is struggling under Nike chief executive officer Elliott Hill, who took over in December 2024 to help turnaround the sportswear company. The brand has remained heavily reliant on its Chuck Taylor shoe, while forays into other styles haven't taken hold. The brand's sales plunged 30 percent in the latest quarter. "We're resetting the marketplace for Converse under new leadership," Hill told analysts in December."
Converse instructed employees to work from home ahead of planned layoffs and restructuring. The company will assign new roles and move some staff, and leadership said difficult decisions will include saying goodbye to teammates. The memo did not specify how many positions will be eliminated. Multiple senior executives are departing and an all-team meeting will be held later this month. Converse has remained heavily reliant on Chuck Taylor styles and saw sales plunge 30 percent in the latest quarter. Nike previously cut distribution and corporate staff, and Nike shares fell 1.6 percent midday.
Read at The Business of Fashion
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