[5]
By Oregon Small Business Association Foundation
Two Oregon-based companies on the Fortune 500 in 2024 are laying off employees to cut costs. Nike, based in Beaverton and ranked 88th on the list, announced layoffs in February. Lithia Motors of Medford, which posted a record $8.6 billion in first-quarter sales, announced plans to curb employment at the auto dealership to save $250 million. That’s because its profit had dropped by 28 percent to $165 million, the newspaper reported. Lithia ranked 140th.