Nike's $2B cost-cutting: What does it mean for the rest of us?

Heard about the latest round of layoffs at Nike, around 1400 people. The news is buzzing about this being tied to a $2 billion cost-cutting plan. It's scary to think about how deep this goes. I'm wondering if this is just a surface-level cut or if we're going to see more strategic shifts. Is this about streamlining operations, or are they fundamentally changing their approach to product development and marketing? I saw some talk about the sustainability team being slashed, which seems counterintuitive given current market trends. For those still there, or those recently let go, what's the vibe? Are people worried about future cuts? Are projects being shelved? It feels like a big company like Nike should be more stable. Just trying to understand the long-term implications beyond the immediate headcount reduction. Any insights from people inside are appreciated.