Nike says it is looking for as much as $US2 billion ($2.95b) in cost savings by dismissing workers and simplifying the sneaker company’s product assortment amid a weaker sales outlook. The shares deepened post-market declines in US trade overnight Thursday after management gave an updated look at the second half of the company’s fiscal year. The sportswear giant sees full-year revenue rising about one per cent after declines in the current quarter and a modest increase in the subsequent one. Chief financial officer Matt Friend said on the company’s conference call that the new outlook reflects a challenging environment — …
