As part of Nike’s three-year cost-saving plan to bring it back from slumping sales and compete with a new wave of sneaker brands, the shoe giant is in the process of laying off up to 2% of its staff. But even as the company splits with those employees, it has found that some personnel are irreplaceable.
Nike is bringing a 30-year veteran executive from the company out of retirement to help in its recovery efforts. Former senior executive Tom Peddie, who retired from the shoe giant in 2020, will take on the role of vice president of marketplace partners after Nike’s relationships with shoe sellers have faltered. Peddie previously led global sales at Nike’s before becoming the company’s general manager of emerging markets and heading its North American geography.
