Nike is reportedly laying off staff after announcing a $790 million loss in its latest quarterly earnings

The sportswear giant reported a net loss of $790 million for Q4 on Thursday, in part a result of pandemic-related store closures.
Donahoe said the layoffs are an effort to restructure the "overburdened matrix" of the company.
If you're a Nike employee with a story to share, email sciment@businessinsider.com.
Visit Business Insider's homepage for more stories .

Nike is reportedly laying off some of its staff after posting slumping sales and losses for Q4 on Thursday.

A company-wide email sent Thursday from CEO John Donahoe announced the layoffs, are expected to occur in two rounds taking place in July and the fall. The email, which was viewed by Complex , did not specify how many employees and which departments would be impacted but mentioned that workers at Nike's retail stores, distribution centers, and manufacturing facilities are not expected to be among those laid off.

Donahoe also stated the layoffs were not being done because of pandemic-related or "cost" reasons, but rather as an effort to restructure the "overburdened matrix" of the company.

The announcement came shortly after Nike reported a net loss of $790 million in the fourth quarter on Thursday, in part as a result of the COVID-19 pandemic's impact on store closures across North America.

"These decisions are exceptionally difficult because they impact friends and colleagues at Nike," Donahoe wrote in the email, according to Complex. "You have my personal commitment that we will put people at the center throughout this entire process. We will support everyone impacted by this transition."

If you're a Nike employee with a story to share, email sciment@businessinsider.com, or message this reporter via encrypted messaging app Signal at +1 (646) 376-6018 using a nonwork phone.

NOW WATCH: Why thoroughbred horse semen is the world's most expensive liquid