Nike is reportedly discontinuing its FuelBand line of wearable hardware, with up to 55 people laid off in the process, according to a confidential source.
A person familiar with the matter disclosed the information to CNET, saying Nike plans on exiting the wearable-hardware market altogether. Apparently, with increasing competition expected from Google and Apple, the shoe company instead plans on focusing on athletic tracking software.
"As a fast-paced, global business, we continually align resources with business priorities," Nike spokesman Brian Strong told CNET. "As our digital sport priorities evolve, we expect to make changes within the team, and there will be a small number of layoffs. We do not comment on individual employment matters."
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