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Story summary
- Nike, Inc. is cutting about 775 U.S. distribution jobs in Tennessee and Mississippi to streamline operations.
- This follows 1,000 corporate layoffs announced last summer.
- The company aims to boost efficiency and invest in automation and technology.
- CEO Elliott Hill said Nike is in the midst of a turnaround.
- Despite a slight rise in net sales, net income fell 32% in the last quarter.
