UK: Redundancies "likely" at Umbro
Umbro, which is being sold to Iconix in a US$225m deal announced last last month, employs 384 people, 238 of whom are based in the UK.
A spokesperson for Nike said 190 Umbro employees are being consulted on the next steps to take following the acquisition. "Some will be offered roles at the new Umbro organisation under Iconix, some will stay on for a period of time as part of a transition team.
"Those that don't fall into these two groups will be able to apply for roles at Nike, but there are likely to be some redundancies."
Nike said the acquisition, which is expected to close by the end of the year, will enable the company to focus on its "highest-potential growth opportunities".
In September, Nike inked a sponsorship agreement with the Football Association to design and supply kit for England's football teams, replacing the existing deal with Umbro.
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