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NIKE ANNOUNCES HIRING-FREEZE; REEBOK TARGETS MARCH FOR CUTS
Published February 6, 1998
A day after Reebok announced a 10% staff cut, Nike is "re-evaluating its spending as well," according to Jeff Manning of the OREGONIAN. Nike "instituted a hiring freeze in late January and is analyzing all department budgets in an effort to cut costs" (Portland OREGONIAN, 2/6). REEBOK'S PLAN: In Boston, Chris Reidy examines Reebok's restructuring. Reebok Dir of PR Dave Fogelson said that it could be the end of March before the company "details exactly where and when its announced cuts will occur" (BOSTON GLOBE, 2/6). On "The Edge," CNBC's Sue Herera reported that Reebok's "restructuring plan will affect every arm of the company except sales" ("The Edge," CNBC, 2/5).