Why Belgian Nike employees fear redundancies

Nike‘s 5,000 Belgian employees fear that the sportswear brand will announce redundancies next week. Being left behind by competitors, CEO Elliott Hill has announced two billion dollars in cost cuts.

New cost cuts

Near Antwerp, Nike’s European Logistics Campus takes care of distribution to all of Europe, the Middle East and even Africa. However, its 5,000 employees now fear a reorganisation will be announced next Thursday, as the American sportswear brand has announced a three-year cost savings plan worth two billion dollars.