Shoe companies aren’t immune to the global recession, with Nike set to announce layoffs of 4%, of 1400 people of form its 35,000 strong global workforce.

Nike is headquartered in Portland, Oregon and employs 7,000 people in the city. There is no announcement yet as to where the jobs would be cut.

Nike previously instituted a hiring freeze and cut travel spending late last year.

Nike said in a statement that it would consult with employees on where cuts would be made, with a final announcement on which jobs would go to be made before the end of the financial year.