“Based on guidance from government and health authorities, we are encouraging U.S.-based Nike employees to work from home starting Monday, March 16 through March 31, if their job allows. Nike’s World Headquarters, located in Beaverton, Oregon, will remain open during this time. We will continue to monitor developments and make decisions that prioritize the safety of our teammates as necessary,” the company said in an email statement.
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The precaution comes roughly two weeks after the company shuttered its European headquarters in Amsterdam temporarily after an employee contracted the coronavirus. “We are aware of an employee coronavirus (COVID-19) case. Out of an abundance of caution, we are conducting a deep cleaning of the [European headquarters] campus,” a Nike spokesperson wrote in an email to FN. “All EHQ buildings and facilities will be closed until Wednesday.”
As with all the major athletic market players, Nike’s stock has been adversely impacted by the coronavirus.
Yesterday, Wall Street recorded its worst day since the “Black Monday” crash in 1987, and again triggering a circuit breaker that led the New York Stock Exchange to suspend trading for 15 minutes. (Yesterday’s trading halt was the second for the week.) Amid the broader market selloff, shares for Nike Inc. dropped nearly 12%. (Competitors Adidas AG’s was down more than 14% and Under Armour declined almost 15%.)
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